MAN asks FG to solve fundamental problems in industrial sector

BY DEMOLA AKINYEMI
ILORIN — The Manufacturers Association of Nigeria, MAN, has called on the Federal Government to summon the political will to arrest the protracted fundamental problems in the industrial sector which has led to the exit of many multinational companies from the country.
As 2012 is winding up, solving these prevailing problems, according to the association, becomes necessary because they have largely contributed to the problems of mass unemployment, insecurity and the nation’s worsening economic crisis among others.
Chairman, MAN, Kwara andKogiStates, Princess Omolola Olobayo, stated this inIlorin, yesterday, at a press conference on the second Annual General Meeting, AGM, of the association which will hold next week.
Olobayo listed poor power supply, multiple taxation, poor patronage, high interest rate and very short period of loan repayment by the Nigerian banks, among others, which she stressed were killing the industries.
Olobayo said lack of continuity in the policies of government since independence had been responsible for the continued existence of these problems and that as a result of this, such multinational companies like Dunlop and Michelin, among others, have leftNigeriato neighbouring countries with better facilities, thus worsening our economic crisis.
Olobayo said many textile companies which used to provide jobs for thousands of Nigerian youths were out of business, stressing that these problems should be urgently addressed.
She also explained that due to inconsistencies in the polices of various administrations in the manufacturing sector since independence the country has been taking one step forward and 10 steps backward, adding that this was why the sector was where it is today.

Tax holiday

The MAN boss who called for tax holiday to encourage the sector as was obtainable in other developing countries added that everything humanly possible should be done to ensure stable power supply in 2013.
She argued that “when this is done and other listed problems are tackled, the major problems facing the country such as youth unemployment, insecurity and poverty among others would have been solved by 80 per cent if not more.”
Olobayo noted that Governor Abdulfatah Ahmed of Kwara State would deliver an address on the theme of this year’s AGM, entitled, “Survival of industries in Nigeria,” while governors of Kogi and Niger and captains of industry are also being expected.
Culled: Vanguard