Connect with us

Markets

MAN: We’re Partnering to Boost Growth

Published

on

Nigeria
  • MAN: We’re Partnering to Boost Growth

Efforts are on-going between private and public sectors to jointly propose quick-win solutions that will help Nigeria grow its manufacturing sector.

Manufacturers Association of Nigeria (MAN) President, Dr. Frank Jacobs, said that lack of sustainability in the importation of raw materials for local production is a big challenge. He said measures are under way to leverage value-chains among research institutes and operators to improve access to raw materials locally.

Jacobs said operators are leveraging relationships with large and medium size corporations to retool and get local alternatives of raw materials that can aid production, reduce cost and time of procurement.

He said by doing that, local operators will reduce dependence on importation of raw materials for local production as well as deepen access to plants and machineries necessary for value addition.

“At present, we are working with some tertiary institutions, Chemical Society of Nigeria, research institutes on raw materials production. We have signed MoU with them in this regards.

“We believe that importing raw materials is not a sustainable way of industrial revolution. We have abundant resources in this country that cannot be processed. We are working to achieve that,” he said.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Advertisement
Advertisement