Stakeholders are looking for innovative approaches to revitalizing the real sector

Calling for innovation, an end to unfavourable policies and practices that restrict production, and the creation of a better business environment, the umbrella organisation of manufacturers in Nigeria, the Manufacturers Association of Nigeria (MAN), made this and other appeals at the annual Nigeria Manufacturers Summit which kicked off yesterday in Abuja.

The summit, attended by all representatives of the real sector and the government, will end tomorrow.

According to MAN CEO, Segun Ajayi-Kadir, the summit is crucial for the manufacturing sector as its theme, “Rethinking Manufacturing,” reflects the need for innovative strategies and approaches that will enhance the efficiency, competitiveness and sustainability of the manufacturing sector in Nigeria.

He added that to implement their plans, they worked with the Presidency, the Federal Ministry of Industry, Trade and Investment (FMITI), the National Institute for Policy and Strategic Studies (NIPSS) and Ernst & Young (EY) to ensure the success of the summit.

The CEO said the summit will discuss key issues such as overcoming constraints that limit sector performance, enhancing supply chain resilience, leveraging technology and overall fostering an enabling business environment to drive growth in the sector.

He added that the meeting will be attended by representatives of relevant ministries, departments and government agencies, multilateral and development partners, regional institutions, corporate entities, subject matter experts and manufacturers from all sectors critical to the world of production.

Discussions at the Summit focused on five key pillars, including promoting growth, increasing productivity and improving competitiveness; enhancing energy security and infrastructure development; improving the macroeconomic environment, ease of doing business and addressing ESG issues; increasing interest in local products and developing local content; and leveraging regional and continental trade to drive export growth.

He added that they also take part in group discussions with government representatives, CEOs of manufacturing companies, industry experts, leaders of continental institutions, and opinion leaders.

“We are already witnessing interesting presentations on manufacturing efficiency, emerging trends and best practices in the industry, networking opportunities, and showcases of innovative local products, technologies and solutions in the manufacturing sector,” he said.