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Insecurity forcing manufacturers out of business – MAN DG

Segun Ajayi Kadir MAN DG

THE Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has highlighted that insecurity, multiple taxation, and high energy costs are significant challenges faced by manufacturers in Nigeria.

He emphasized the importance of government policies aimed at enhancing the performance of the manufacturing sector.

Ajayi-Kadir made these remarks as a guest on Channels Television’s Sunrise Daily breakfast programme during the week.

During the interview, Ajayi-Kadir described the current operating environment for manufacturers as tough, reflecting a global trend of challenges post-Covid-19 recovery, geopolitical tensions, and reforms in Nigeria.

He stressed the need for collaborative efforts between the private and public sectors to navigate these difficult times effectively.

Addressing concerns about government actions post-petrol subsidy removal, Ajayi-Kadir emphasized the necessity for constructive dialogues to align objectives and mitigate negative consequences of reforms.

He underscored the vital role of engagement and feedback mechanisms in ensuring a smooth transition for businesses and the economy.

Speaking on taxation and insecurity, Ajayi-Kadir expressed dissatisfaction with the impact of insecurity on manufacturers, citing significant losses in the North-East region due to production halts.

He maintained that there is an urgent need for enhanced government efforts to address security challenges and create a conducive environment for businesses to thrive.

Looking ahead, Ajayi-Kadir expressed optimism for improved performance in the manufacturing sector by the second half of the year, emphasizing the importance of government support through security measures and policies.

He called on the government to incentivize the manufacturing sector in both the short and long term to boost domestic production and address existing constraints.

Ajayi-Kadir also highlighted the need for government policies to align with President Bola Tinubu’s commitment to promoting domestic production.

He called for consistency between governmental actions and statements to facilitate sector growth and mitigate constraints hindering the manufacturing industry’s performance.