Stakeholders seek innovative approach to revive real sector

Calling for innovation, an end to unhelpful policies and practices that stifle manufacturing as well as better business environment, the umbrella body for manufacturers in Nigeria, the Manufacturers Association of Nigeria (MAN), urged these and more as the yearly Nigeria Manufacturers Summit kicked off yesterday in Abuja.

The summit, which brought together all the players in the real sector and the government, will end tomorrow.

According to MAN’s Director-General, Segun Ajayi-Kadir, the summit is pivotal for the manufacturing sector as the theme, “Rethinking Manufacturing,” reflects the need for innovative strategies and approaches that will enhance the efficiency, competitiveness and sustainability of the manufacturing sector in Nigeria.

To further their agenda, he said they collaborated with the Presidency; Federal Ministry of Industry, Trade and Investment (FMITI); National Institute for Policy and Strategic Studies (NIPSS) and Ernst and Young (EY) to ensure the summit’s success.

The DG said the summit is looking into critical discussions such as overcoming the binding constraints limiting the sector’s performance, enhancing supply chain resilience, leveraging technology and generally fostering a conducive business environment to drive sectoral growth.

He added that the gathering has relevant government ministries, departments and agencies, multilateral and development partners, regional institutions, corporate entities, subject matter experts and manufacturers across all sectors critical to the manufacturing world.

Discussions at the summit focused on five major pillars, including promoting growth, upscaling productivity and improving competitiveness; enhancing energy security and infrastructure development; improving macroeconomic environment, ease of doing business and periscoping ESG; improving patronage of local products and local content development as well as leveraging regional and continental trade for export development.

He added that they are also engaging in focus group discussions with government officials, CEO of manufacturing industries, industry experts, leaders of continental institutions like and thought leaders.

“We’re already witnessing insightful presentations on manufacturing performance, emerging trends and best practices in the industry, networking opportunities, showcasing of innovative local products, technologies and solutions in the manufacturing sector,” he said.