Mrs Ada Chukwudozie, Chairman of the Manufacturers Association of Nigeria’s South-East Chapter, has encouraged federal and state governments to provide investment incentives to manufacturers to increase production and the economy.
Chukwudozie stated that such incentives will make it easier for manufacturers to do business while also providing them with easy access to capital and raw materials to help them grow.
She made the statement at the South-East Manufacturers Stakeholders Engagement conference, which was held on Thursday at the MAN Liaison Office in Onitsha, Anambra State.
The seminar, titled ‘Access to credit and cheaper capital for SMEs in Nigeria’, was attended by key actors in the manufacturing industry, including Charles Odii, Director General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
In a conversation with media, the MAN CEO encouraged the Federal Government to subsidise the cost of raw materials for manufacturers and provide answers to their problems, particularly power.
She said:
“There is the need for governments at all levels to empower manufacturers as this would enhance the country’s economic growth. It will also ensure the stability of the Naira.
“Nigerians need hope. Having listened to all the speakers at the forum, especially the Director-General, Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, Charles Odii, I am lifted in the spirit and I am very hopeful that there is hope for Nigeria. It is always difficult to start good things, but with time, it will take its roots and become very fruitful.
“They have signed several MoUs with Anambra and Enugu state governments to dole out N1bn to support businesses with a view to expand their capital base, but that is just a pilot scheme.
“The money will be given to organised private sector trying to formalise the informal sectors to register with either the chambers of commerce, trade and investment or register with MAN to be able to access the funds.”
cc: Punch Ng
