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, significantly within the areas of electrical energy, taxation, infrastructure and entry to inexpensive 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 price of manufacturing and unfavourable lending circumstances confronting Nigerian producers.
Speaking on the convention theme, “Manufacturing for National Development: Integrating Education, Skills, Investment and Tax Incentives in Nigeria,” the MAN president stated producers couldn’t survive below prevailing financial circumstances, 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 price of financing positioned Nigerian producers at an obstacle in contrast with international opponents, significantly Chinese firms reportedly having fun with rates of interest as little as three per cent.
In his keynote deal with, MAN Vice President, East, Okenze Sylvester Obinna, confused that Nigeria couldn’t obtain sustainable financial prosperity with no sturdy and aggressive manufacturing sector.
He known as for nearer collaboration between universities, technical establishments and industries to supply graduates geared up with sensible and technical expertise 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 assist official actions and improved its income profile by roughly 800 per cent.
