Declare a state of emergency in manufacturing sector, Manufacturer urges FG
By Yunus Yusuf
A Pencil Manufacturer, Mr Muideen Ibrahim has urged the Federal Government to urgently declare State of Emergency in manufacturing sector to revamp the economy.
Ibrahim, the Chief Executive Officer (CEO) BAMIB Resources & Investments Company Limited, made this known in an interview with the Business Intelligence (TBI Africa) in Lagos on Tuesday.
Ibrahim noted that erratic power supply, double taxation and governmental inadequacies, poor regulatory framework, and low demand for product and services amongst others were the challenges faced by manufacturers.
The manufacturer explained that declaring a state of emergency would totally revamped the sector in order to contribute tremendously to the Gross Domestic Products of this great nation.
He said: “The government can come in to support manufacturers in various ways and some of which are: creation of the enabling environment, implementation of workable policies.
“This is by giving them Interventions, incentives and real support that will see them through all the various stages of manufacturing and growth.
“Power is very key and the importance of power to good manufacturing cannot be overemphasized. So the government should fix power as a matter of utmost urgency.
“This is because many manufacturers have closed down due to the erratic power supply unfortunately diesel price has skyrocketed at N1,600.00/litre or more depending on location. The government should also provide basic infrastructural facilities for the manufacturers as well.”
Ibrahim said aside from that, the government could also create Technology Incubation Hubs in all the Local Government Areas and the State Capitals.
According to him, this great initiative will revamp manufacturing very well.
The manufacturer also urged the federal government to urgently create a Ministry of Small, Medium Enterprises (SMEs) in the country.
Ibrahim said this was as obtainable in other climes where SMEs are doing very well because the importance of SMEs in any nation cannot be overemphasised.
He noted that SMEs were the engine room and could provide several jobs for the teeming unemployed in this country.
The manufacturer said the government should endeavour to have a round table discussions with the manufacturers from time to time.
