The Manufacturers Association of Nigeria (MAN) is set to set ‘An Agenda for Nigeria’s Industrialization for the Next Decade,’ at its upcoming 50th 50th Annual General Meeting (AGM) coming up between October 17 and 19, 2022.
Similarly, its president, Mansur Ahmed, would be stepping down, having completed four-year tenure.
Ahmed, who made this known yesterday at the media briefing commemorating its upcoming AGM, said the theme of the conference ‘An Agenda for Nigeria’s Industrialization for the Next Decade,’ is germane, especially, in the current economic realities.
Among the dignitaries expected at the AGM are: the president/chief executive of Dangote Group, Alhaji Aliko Dangote, who will be the guest speaker and President Muhammadu Buhari, as the special guest of honour, while the minister of Industry, Trade and Investment, Otunba Niyi Adebayo will be the guest of honour.
Speaking to media in Lagos, Ahmed stated that the theme of is borne out of the need to take stock of the nation’s journey to industrialisation, to ascertain the pains and pain-points; to highlight the performance limiters; recognize the gains and growth milestones; and to identify the learning curves and hurdles ahead.
Alll these, he said, is with a view to crafting a robust agenda for resetting industrialisation, albeit manufacturing in Nigeria, saying, the significance of an electioneering year further propels us to bring to the consciousness of aspiring leaders of the nation the importance of a virile manufacturing sector.
He added that, this is to put forward the case of being intentional about accelerating the growth and development of the sector in their agenda on the economy.
According to Ahmed, over the years, the performance of the manufacturing sector has been constrained by numerous familiar challenges that are clearly espoused in our numerous presentations and submissions to the government.
“It is indeed a matter of great concern to our members that even as our economy continue to experience very slow growth, our policy makers at all levels continue to compound the situation by introducing new taxes, further worsening the difficult and high-cost operating environment.
“In some climes, when the economy slows down government reduce taxes to encourage businesses to expand, create more jobs and increase economic activities. What we are seeing in Nigeria today is not only increasing tax rate but introducing new taxes and turning every public agency into a revenue collector,” he pointed out.
On excise duty, he said, any additional increase in excise duty will increase cost significantly, saying, “we are all aware of the inflation in this country and its impact on the cost of the purchase of the ordinary Nigerian.
He called on the government attention not to consider raising taxes as this is not the time, saying ‘you do not increase tax at a time when the economy is contracting.’
To him, “tax reduction make it easier for manufacturers and businesses to expand their business and to create more opportunities for economic activity to create more wealth, and the capacity to pay taxes will be sustained.
“So, we are urging government to properly think through and reconsider these tax increases and to ensure that they do not undermine the capacity of the manufacturers. The government should help the industry and businesses that will help them to grow and expand than increasing taxes.”
He noted that “in the midst of the challenges, we are resilient and soldier on with our advocacy for a conducive atmosphere for the operation of manufacturing business in Nigeria. We continue to work towards ensuring that Nigeria becomes an environment that promotes competitiveness.”
