MAN: Nigeria Cannot Consume Its Way to Prosperity, Manufacturers Demand Policy Action

……… Association targets industrial policy implementation, high energy cost, forex, infrastructure

The Manufacturers Association of Nigeria (MAN) has challenged the Federal Government to move beyond policy pronouncements and deliver concrete measures capable of reviving domestic production, warning that Nigeria cannot achieve sustainable prosperity by relying on imports and consumption.

The association said the country’s ambition to emerge as Africa’s leading industrial hub would remain difficult to achieve unless the National Industrial Policy is translated into improved factory operations, lower production costs, stronger local supply chains, increased investment and sustainable job creation.

MAN President, Otunba Francis Meshioye, OFR, stated this on Tuesday at a media briefing ahead of the association’s 54th Annual General Meeting, scheduled for October 5–7, 2026, at the Lagos Oriental Hotel, Victoria Island, Lagos.

The AGM, with the theme, “Leveraging National Industrial Policy to Position Nigeria as Africa’s Industrial Hub,” is expected to focus attention on the implementation of Nigeria’s industrial policy and the challenges confronting manufacturers.

Meshioye said manufacturing remained central to the country’s economic transformation because of its capacity to create jobs, stimulate innovation, deepen local value chains and convert Nigeria’s resources into economic value.

He, however, listed high production and energy costs, inadequate infrastructure, limited access to affordable finance, inflation and foreign exchange instability among the major pressures undermining manufacturing competitiveness.

He said recent global economic developments and geopolitical tensions had reinforced the need for Nigeria to build stronger domestic productive capacity and reduce its vulnerability to disruptions in international supply chains.

According to him, MAN’s advocacy has continued to centre on macroeconomic stability, improved infrastructure, affordable long-term financing, a stable foreign exchange environment and a predictable regulatory framework.

The MAN president also disclosed that the association had maintained engagement with the government over the implementation of the country’s evolving tax framework.

He said MAN, in collaboration with the Organised Private Sector, was seeking greater clarity, consistency and legal certainty in the tax system, stressing that fiscal reforms should strengthen government revenue without undermining investment and productive enterprise.

On the Nigeria Industrial Policy 2025, Meshioye said its formal launch by the Federal Government in February 2026 represented an important step towards rebuilding the country’s industrial base.

He said the policy’s emphasis on domestic value chains, strategic industrial sectors, infrastructure, energy, skills, technology and MSME integration could provide the framework needed to strengthen Nigeria’s productive capacity.

But Meshioye stressed that implementation would be the real test of the policy.

“For manufacturers, implementation must be reflected in factories operating more competitively, stronger local supply chains, increased investment, improved productivity, sustainable jobs and greater access to domestic and export markets,” he said.

He disclosed that MAN had participated actively in the stakeholder consultations preceding the policy, providing government with the perspectives and practical experiences of manufacturers.

A major highlight of the AGM will be the 6th Adeola Odutola Lecture, which will feature Dr. Kandeh Kolleh Yumkella, former Director-General of the United Nations Industrial Development Organization (UNIDO), as Distinguished Guest Speaker.

The Public Session on Tuesday, October 6, will attract government officials, policymakers, members of the diplomatic community, development partners, Organised Private Sector leaders, captains of industry and other stakeholders.

The event will open on Monday, October 5, with the Made in Nigeria Exhibition (MiNE) 2026, where manufacturers will showcase locally produced goods, technologies and innovations.

MAN said the exhibition, which will run throughout the three-day event and remain open to the public, is aimed at promoting patronage of Nigerian-made products, facilitating business connections and demonstrating the capacity of local manufacturers to compete in domestic and international markets.

The AGM’s Private Session will hold on Wednesday, October 7, exclusively for MAN members and will consider the association’s annual report and audited accounts, transact statutory business and elect officers and members of the National Council for the 2026/2027 year.

The session will be followed by a discussion on “Bridging Industrial Skill Gaps with Smart and Additive Manufacturing: A Manufacturing Imperative,” focusing on emerging technologies and the skills required to improve productivity and competitiveness.

Meshioye urged the media to sustain attention on the challenges facing manufacturers and ensure that industrial development remained a central issue in the national conversation.

“As manufacturers, we remain convinced that Nigeria cannot sustainably consume its way to prosperity. We must produce, add value, innovate and compete,” he said.