The Manufacturers Association of Nigeria (MAN) has voiced growing concerns over the escalating challenges faced by businesses in the country.
During an interview with Channels TV on Wednesday, Segun Ajayi-Kadir, the Director-General of MAN, characterised the current situation as “extremely challenging,” prompting many to question the viability of staying in business.
Ajayi-Kadir underscored the additional hurdles confronting manufacturers in securing essential resources such as power, water, and locally sourced raw materials.
He stated, “The situation is undeniably tough. The manufacturing sector is intricately linked to the broader economic challenges facing the nation. However, for manufacturers, it is particularly arduous. They must contend with competition from imported products originating from environments more conducive to manufacturing.”
“In addition to meeting employee obligations and tax requirements, manufacturers must navigate the complexities of infrastructure provision. This includes ensuring access to power, water, and locally available raw materials, as well as facilitating the distribution of their products in the market.”
“With these challenges intensifying, many manufacturers are contemplating the feasibility of sustaining their operations in this climate,” Ajayi-Kadir concluded.
