The director general of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has acknowledged the potency of the Tinubu administration’s Accelerated Stabilisation and Advancement Plan (ASAP).
According to a statement by Ajayi-Kadir, the development epitomises the end product of the collective thinking of the government and relevant stakeholders in the private sector.
He commended the President for assigning the Economic Management Team Task Force to develop the plan and inaugurate the Presidential Economic Coordinating Council to superintend its implementation.
However, he admonished that a plan in itself does not deliver. With the downturn in the economy, he said that the stabilisation plan is timely, and effective implementation will be a good starting point to restore confidence in governance and the economy.
Ajayi-Kadir posited that while Coca-Cola’s recent commitment to investing $1 billion in the Nigerian economy is a promising sign and an expression of confidence in the Tinubu administration’s ASAP, full and timely implementation is key to unlocking its full potential. He added that sustained growth and investor confidence depend on the complete rollout of the plan.
“The early results of this plan are encouraging, but its full execution is crucial to ensure lasting economic growth,” Ajayi-Kadir stated. “As advocates for Nigeria’s manufacturing sector, we urge the government to maintain momentum and fully implement the plan. The Coca-Cola System’s $1 billion commitment must have been predicated on the belief that specific aspects of the ASAP would be fully implemented and sustained. While acknowledging that the coordinating minister of the economy has demonstrated and assured of the government’s commitment to the plan, further decisive and well-coordinated action is needed to ensure this kind of investment (and many more to be attracted) translates into broader economic gains under President Tinubu’s government.”
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