Nigeria To Develop New Policy Framework To Boost Manufacturing Sector

The federal government has teamed up with the Manufacturers Association of Nigeria (MAN) to develop a practical plan and policy framework aimed at revamping the country's manufacturing sector.

Speaking at a three-day National Manufacturing Policy Summit in Abuja on Tuesday, Vice President Kashim Shettima pledged to swiftly implement the roadmap and policy framework.

He expressed regret that the manufacturing sector, which played a crucial role in building a productive and prosperous nation, was facing numerous challenges over the past decades.

"I implore us all to leverage this summit to develop an actionable roadmap and policy framework, ready for immediate implementation, to create the changes we want in the manufacturing sector," the vice president said, as per the official State House website.

"I assure you that we shall always maintain an open-door policy to accommodate your needs and expectations."

The vice president emphasized the need to prioritize local content and boost the usage of products made in Nigeria. He highlighted that Executive Order 003, which mandated the government to purchase locally manufactured goods, remains operational.

Shettima also stressed on the importance of focusing on expanding the production of capital goods, assuring that government ministries, departments and agencies are required to fully adhere to Executive Order No. 003.

Shettima noted that Africa is a "continent that has languished at the bottom of the global value chain, with its share of global manufacturing at less than two percent," stressing that Nigeria has no better option than to support locally produced products.

"Most of our setbacks as a nation, as each of you knows, are due to over-dependence on imports for even our basic necessities. That is why we need you to address the various challenges facing the sector and ensure we have a competitive manufacturing sector," he said.

After touring the summit's exhibition, the vice president expressed his satisfaction, stating that he was now more convinced than ever of Nigeria's industrial capabilities, creativity and innovation.

Highlighting the importance of manufacturing locally to boost the country's wealth, job creation, living standards and revenue generation, Shettima explained why President Bola Tinubu was prioritizing the acceleration of infrastructure projects including roads, ports and energy supply.

Earlier this week, the Director General of the National Agency for Food and Drug Administration Mojisola Adeyeye praised Tinubu for approving the Executive Order (EO) on healthcare, which was aimed at boosting local production of health products.