Korede Abdullah in Lagos
The Manufacturers Association of Nigeria (MAN) has urged the Federal Government to enact the Nigeria First Policy into law to bolster the country’s manufacturing sector.
Speaking at the 2025 BusinessDay Manufacturing Conference in Lagos on Thursday, MAN Director-General, Segun Ajayi-Kadir, emphasized the urgency of gazetting the policy to ensure it is implemented across all tiers of government and the private sector.
“‘Make the Nigeria First Policy a binding law, and punitive measures should be put in place for violators,’” he said.
He warned that, without legal backing, the policy could end up like Executive Orders 003 and 005, which failed due to weak enforcement. “If we fail to nurture our own, we will forever be at the mercy of others,” he added.
Ajayi-Kadir lamented the worsening state of the manufacturing sector, revealing that 767 firms shut down in 2023 alone, leading to the loss of over 18,000 jobs in 2024.
He cited high interest rates, infrastructure decay, policy inconsistency, and a volatile naira as critical threats to the industry’s viability.
The MAN boss called on the government to urgently address unresolved issues, including the $2.4 billion in unsettled foreign exchange forwards and the recent 15 per cent hike in port charges by the Nigerian Ports Authority.
He also demanded the removal of the suspended but burdensome 4 per cent Free on Board levy on exports.
In his appeal, Ajayi-Kadir also called for swift completion of the Ajaokuta-Kaduna-Kano (AKK) gas pipeline, noting it could inject 3.6 GW into the national grid, thereby reducing energy costs for manufacturers.
MAN further urged the government to adopt its 2024 Manufacturers Summit Report as a working document for a comprehensive national industrial policy.
“A nation without a clear industrial policy is like a ship without a rudder,” Ajayi-Kadir stated, emphasizing the need for strategic direction to transform Nigeria’s manufacturing landscape.
