The Chairman, Manufacturers Association of Nigeria, South-East chapter, Mrs Ada Chukwudozie, has asked the federal and state governments to provide investment incentives for manufacturers to improve production and boost the economy.
Chukwudozie mentioned that such incentives would make it easier for manufacturers to do business and would help them to easily obtain funds and raw materials to improve their businesses.
She made this statement at the South-East Manufacturers Stakeholders Engagement forum, held at the MAN Liaison Office in Onitsha, Anambra State, on Thursday.
The program had notable players in the manufacturing sector in attendance, including the Director General, Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, Charles Odii.
The MAN boss, in an interview with journalists, urged the Federal Government to subsidise the cost of raw materials for manufacturers and provide solutions to their challenges, especially electricity.
She expressed, “There is the need for governments at all levels to empower manufacturers as this would enhance the country’s economic growth. It will also ensure the stability of the Naira.
“Nigerians need hope. Having listened to all the speakers at the forum, especially the Director-General, Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, Charles Odii, I am lifted in the spirit and I am very hopeful that there is hope for Nigeria. It is always difficult to start good things, but with time, it will take its roots and become very fruitful.
“They have signed several MoUs with Anambra and Enugu state governments to dole out N1bn to support businesses with a view to expand their capital base, but that is just a pilot scheme.
“The money will be given to organised private sector trying to formalise the informal sectors to register with either the chambers of commerce, trade and investment or register with MAN to be able to access the funds.”
She also commended the Anambra State Governor, Prof. Chukwuma Soludo, for providing one million seedlings to different households instead of giving them cash.
“So, instead of the governor giving out cash to people, he gave out one million seedlings to each household. These seedlings are economic crops, automatically, those households have been economically empowered for life.
“Therefore, manufacturers should as well receive incentives from the government so that they would produce more goods and if they produce more, they create wealth, jobs and the economy would be abundant and influence the Naira to appreciate against the dollar,: she said.
She further urged Nigerians to prioritize agriculture and grow a garden of food crops rather than flowers.
Speaking at the event, the Anambra State Commissioner for Industry, Christian Udehchukwu, said the state government had made funds available to support small and medium scale enterprises.
Udehchukwu noted that the major aim of the forum was for manufacturers to know where and how to access these funds.
He urged both the companies and traders to set a good example and follow the same path as the state government, which is dedicated to constructing roads to improve their businesses.
In his keynote address earlier, the Director General of SMEDAN, Charles Odii, mentioned their intention to collaborate with MAN on their “one product, one local government initiative,” which involves training each local government in at least one type of manufacturing.
He promised them that the agency will implement measures to help them access finance.
Former Director of Compliance, Head of ATG MANSA Digital Initiative at Afreximbank, Mrs. Maureen Mba, explained that the objective of MANSA platform is to make it easier for customers and businesses to get on board, reduce operational work and compliance costs, promote cooperation between African financial institutions and SMEs, ensure that SMEs meet expectations of customers and business partners, and maintain consistency and effectiveness in the compliance process, among other things.
The main event of the program was the signing of a Memorandum of Understanding between MANSA and SMEDAN, which would give them access to funds for increased production.