Blessing Ibunge in Port Harcourt
The President of the Manufacturers Association of Nigeria (MAN), Dr Ifeanyi Okoye, has known as on the Federal Government and state governments to introduce far-reaching reforms within the manufacturing sector, notably within the areas of electrical energy, taxation, infrastructure and entry to reasonably priced finance.
Okoye made the decision on Wednesday on the 2026 Conference, Exhibition and forty second Annual General Meeting of MAN Rivers/Bayelsa States Branch, in Port Harcourt, the place he lamented the excessive value of manufacturing and unfavourable lending situations confronting Nigerian producers.
Speaking on the convention theme, “Manufacturing for National Development: Integrating Education, Skills, Investment and Tax Incentives in Nigeria,” the MAN president mentioned producers couldn’t survive beneath prevailing financial situations, citing electrical energy tariffs of about N285 per kilowatt-hour, diesel costs of roughly N2,000 per litre and lending charges of between 32 and 36 per cent.
He argued that the excessive value of financing positioned Nigerian producers at an obstacle in contrast with overseas rivals, notably Chinese firms reportedly having fun with rates of interest as little as three per cent.
In his keynote handle, MAN Vice President, East, Okenze Sylvester Obinna, pressured that Nigeria couldn’t obtain sustainable financial prosperity and not using a robust and aggressive manufacturing sector.
He known as for nearer collaboration between universities, technical establishments and industries to provide graduates outfitted with sensible and technical abilities required by producers.
Meanwhile, the outgoing Chairman of MAN Rivers/Bayelsa States Branch, Vincent Okuku, highlighted the achievements recorded throughout his tenure, describing the event as a chance to strengthen the department’s institutional basis.
Okuku disclosed that his administration upgraded the department secretariat, acquired a bus to help official actions and improved its income profile by roughly 800 per cent.
