Photo caption: MAN Director-General of (MAN), Mr. Segun Ajayi-Kadir
By Charles Okonji
The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to inject life into manufacturing sector by implementing the N1 trillion stabilisation fund, urging the government to increase the capital base of the Bank of Industry to meet the credit demand of industries.
This was stated by the Director-General of (MAN), Mr. Segun Ajayi-Kadir who was the Keynote Speaker at the 2025 BusinessDay Manufacturing Conference in Lagos, with theme “Unlocking Nigeria’s Manufacturing Potential: Strategies for Sustainable Growth Amid Economic Turbulence”.
Ajayi-Kadir demanded the removal of the 4% FOB levy permanently, stressing the need to address the concerns of importers who already paid the levy before the suspension.
“The 4% Freight on Board (FOB) surcharge on exports is an avoidable burden that confronts governments fiscal incentives and compromises the competitiveness of made in Nigeria products. Eliminating it will directly avert the looming price escalation of goods in the face of dwindling disposable income of the average Nigerian, enhance the viability of Nigerian exports and promote non-oil revenue generation. Manufacturers who already paid the levy should either be refunded or allowed to use the sum to settle future payments.
“Reverse the 15% increase in Port charges by Nigerian Port Authority (NPA): The recent 15% hike in port charges by NPA is ill-timed and would lead to an escalation of the already high cost of imports. This is coming at a time that other ports are lowering costs to boost patronage and improve efficiency.” MAN DG averred.
On electricity tariffs hike, he urged the government to address the 240% hike in electricity tariffs, warning that the massive increase in electricity tariffs, and threats of further hikes were unsustainable for manufacturers.
“Government should work with NERC to ensure service reflective and genuine cost-reflective tariff. The DisCos should be compelled to make the needed investment in infrastructure, meter availability and commitment to evident improvement in power supply.” He stressed.
Speaking on the “Nigeria First”, he maintained that the policy must quickly move from initiation to government policy, lest it suffers the same fate as the Executive Orders 003 and 005.
According to him, Nigeria must seize this moment to transform its manufacturing sector by prioritizing the patronage of local products.
“Cut the benchmark interest rates and actively deploy moral suasion for commercial banks to prioritize lending to manufacturers at single-digit concessionary interest rates.
“Leverage the country’s partnership with BRICS to further diversify its export markets and products and reduce dependence on the US market, Fastrack the deployment of the National Single Window Platform, strengthens inter-agency collaborations at this crucial period of tariff war in order to safeguard the economy against possible aggravated smuggling and dumping.” He emphasised.
Ajayi-Kadiri pationately advised Nigerians to patronize local products to strengthen domestic manufacturing, saying that it will help stimulate demand for domestic manufacturing.
“By choosing Nigerian-made goods, consumers can contribute to the sector’s resilience and growth, fostering economic development and job creation”. He stated.
