Menu

MAN

MAN

Expatriate employment levy worries manufacturers

,

Lagos, March 6, 2024: Manufacturers Association of Nigeria (MAN) has urged President Bola Tinubu to give due consideration to challenges of manufacturing sector and direct the implementation of Expatriate Employment Levy (EEL) be discontinued.

The Director General, MAN, Mr Segun Ajayi-Kadir, said on Tuesday in Lagos, in reaction to the Federal Government’s announcement on Feb. 27, about a mandatory annual levy for organisations employing expatriate workers.

The development requires a pay of 15,000 dollars (£12,000) for an expatriate director and 10,000 dollars for other expatriate employees.

According to government, the move is to encourage foreign companies to employ more Nigerian workers.

Ajayi-Kadir expressed concern over the Expatriate Employment Levy (EEL), saying its unintended consequences on the manufacturing sector could not be accommodated at this time.

He said the development was potentially an albatross to the realisation of President Bola Tinubu’s private sector led economy aspirations.

He added that the levy would ruin the trust and confidence he was striving hard to build among domestic and foreign private investors.

“The unintended negative consequences on the manufacturing sector are humongous and cannot be accommodated at this time of evident downturn in our economy.

“As the major investors and employers in Nigeria, manufacturers believe that while the levy is ostensibly primed to promote local employment, improve foreign exchange and non-oil income earnings, the levy will regrettably deter foreign direct investments.

“It will also discourage domestic investors who have partnership with foreign investors and undermine knowledge transfers that are critical for Nigeria’s economic growth,” he said.

The MAN DG added that the imposition of EEL posed potential impact on the manufacturing sector and the economy at large.

This, he stated, would in turn mark an unwarranted and unprecedented addition to the cost of doing business in Nigeria, especially to manufacturers.

Ajayi-Kadir noted that the manufacturing sector was already beset with multidimensional challenges.

He said 335 manufacturing companies in 2023 became distressed, 767 shut down, while the capacity utilisation in the sector declined to 56 per cent and inventory of unsold finished products increased to N350 billion.

All these developments, he said, meant that the sector could not afford another disincentive to increased investment and portfolio expansion.

“MAN is concerned that the EEL contradicts our international trade agreements and the obligations contained therein.

“For instance, Nigeria is a signatory to the African Continental Free Trade Area [AfCFTA] agreement. One of the pillars of the AfCFTA is the free movement of skilled labour across the continent, which is complemented by non-discriminatory measures against fellow Africans.

“Quite importantly, this could trigger retaliatory measures against Nigerians working across Africa and other nations of the world; frustrates regional integration efforts and portray Nigeria as a spoiler among her peers.

“The policy will surely undermine the administration’s determination to position Nigeria as an attractive global investment destination and may engender a cold welcome in Mr President’s future foreign investment promotions endeavours,” he said.

He stated that the levy, if not reversed, may expose the Federal Government to a plethora of lawsuits that would distract it from the task of salvaging the current dire situation of our economy.

Ajayi-Kadir said the directive to discontinue the EEL was in the overall interest of national economy and was urgently needed to reassure domestic and foreign investors of Nigeria’s commitment to an investment friendly environment.

He urged President Tinubu to direct the Nigeria Immigration Service to refrain from enforcing compliance with the policy.

MAN

MAN advises on operational civility in Forex probe

,

Lagos, Jan. 9, 2024: The Manufacturers Association of Nigeria (MAN) has urged  government agencies to be more circumspect and civil in making enquiries and securing documents from existing/domestic operators.

MAN Director General, Mr Segun Ajayi-Kadir, made the call in a statement on Monday in Lagos.

The statement was in reaction  to the Economic and Financial Crimes Commission (EFCC) and Dangote Industries Ltd., Foreign Exchange Allocation saga.

The EFCC operatives on Jan. 4, embarked on a search mission to the head office of Dangote Group in Lagos.

The search followed the probe of 52 companies by the anti-graft agency over forex transactions in the last 10 years.

The commission is investigating forex allocations to these companies during the tenure of Godwin Emefiele as governor of the Central Bank of Nigeria (CBN).

Ajayi-Kadir said  the call was to support the President Bola Tinubu administration’s current efforts to drive activities aimed at attracting foreign investors into the country.

He said  news of the invasion of the Dangote Group head office  by dozens of EFCC operatives was quite shocking.

He noted that while no company was above investigation, the appropriateness of the method to get documents from a well-structured and clearly identifiable company like the Dangote Group appeared somehow.

According to him, there is no doubt that this news has gone around the world and many, including would-be investors, will be taken aback and anxiously awaiting how the story will end.

“This may not be the best way to show that Nigeria is committed to good corporate governance.

“Because of the status of the Dangote Group within the Nigerian economy, Africa and the world, the outcome of this rather unfortunate incident may have great impact on how we are perceived as respecters of the right of business entities.

“Government agencies should exercise restraints and be mindful of the wider implications of their actions on our fragile business environment.

“I think it is important for the EFCC to take steps to clear the air on the negative interpretation being adduced to this action.

“This is necessary to reassure existing business concerns and encourage would  be investors,” he said.

MAN

MAN recommends tips to improve real sector outlook

Lagos, Jan. 5, 2024: The Manufacturers Association of Nigeria (MAN) on Thursday reeled out recommendations to improve the real sector’s performance in 2024.

Its Director General, Mr Segun Ajayi-Kadir, gave the advice via a statement in Lagos.

He urged government to use savings from fuel subsidy removal to deploy a bouquet of production focused policies, backed with more structural measures to combat inflationary pressures from insecurity, energy and transport cost.

Ajayi-Kadir also called for the overhaul of the power sector and incentivise investment in renewables to boost electricity generation and promote energy-cost efficiency.

He encouraged sub-national governments and private investors to leverage the opportunities provided by the Electricity Act 2023 to improve energy security in Nigeria.

The MAN DG said that government should lead by example and give priority to patronage of made-in-Nigeria products in all its purchases and for all government contracts and projects.

According to him, government should mandatorily upscale patronage of made in Nigeria products by deliberately reducing the excessive reliance of the country on imported products.

“The three tiers of government should enforce the implementation of the Executive Order 003 in same for their ministries, departments and agencies.

“Government should encourage local sourcing of raw materials through comprehensive and integrated incentives to address the challenges of low productivity and imported inflation.

“They must utilise the 2024 Budget to sustain efforts at improving infrastructure developments, especially in strategic industrial hubs, to reduce operational and logistic cost and promote competitiveness,” he said.

Ajayi-Kadir also stressed that all measures must be maintained to boost liquidity level and degree of transparency in the official foreign exchange window even as the backlog of $7 billion foreign exchange obligations was being cleared.

He said Nigeria should manage the floating exchange rate system within an acceptable lower and upper bound, pending the actualisation of a net-exporting economy aspirations.

The MAN DG called for the prioritisation of foreign exchange and credit allocation to manufacturers and reduce the number of Bureau De Change (BDCs) into large and well-established operators.

This, he said, was to curb their excesses and untowards operations through effective management and supervision.

“Nigeria should encourage inflow of foreign direct investments into pre-determined and domestic production-enhancing businesses.

“We should intentionally guide Diaspora remittances into non-oil sectors, especially manufacturing, to aid foreign exchange inflows and curb rising inflation.

“The Central Bank of Nigeria (CBN) should intensify its collaboration with the fiscal authority; Federal Ministry of Finance and by extension the Tariff Technical Committee (TTC).

“This is for proper policy alignment on the appropriate HS Codes for items that Nigeria has sufficient capacity to discourage importation and save scarce foreign exchange.

“The apex bank should allow foreign exchange access for importation of vital industrial inputs that are currently not available locally and subject them to backward integration policy that gives priority to a predictable sunset clause.

“MAN offers to be part of a monitoring and evaluation team to ensure that government gets value for incentives offered to achieve this objective,” he said.

Ajayi-Kadir also urged the CBN to develop a sustainable framework to channel credit interventions into the manufacturing sector, outside the direct intervention.

“Additionally, it should mobilise commercial banks to intentionally provide long term single digit interest loans to the manufacturing sector to fast-track the actualisation of a one trillion dollar economy,” he said.

MAN

MAN tasks Edo, Delta states on ease of doing business

Asaba, Nov. 24, 2023: The Manufacturers Association of Nigeria (MAN) has called on the Edo and Delta governments to prioritise ease of doing business for manufacturers.

The President of MAN, Otunba Francis Meshioye, made the call during the 37th Annual General Meeting (AGM) of the Edo/Delta branch of MAN on Thursday in Asaba.

Meshioye said manufacturers in both states were faced with problems that needed both federal and state governments intervention.

Represented by Mrs Nwanne Okafor, he said that poor roads, especially in Edo, illegal tax collection, and epileptic power supply were affecting ease of doing business in the states.

“The state government should work with the Federal Government on the rehabilitation of roads in Edo.

“Both states should list all payable taxes, harmonise them and make them available to the public, the collection of taxes and levies by touts should be eradicated.

“Both states should also extend their independent power supply to manufacturers to reduce their cost of production,” he said.

Meshioye explained that the AGM was to engage more with the private sector and government on policies affecting the growth of the manufacturing sector.

On her part, Prof. Dicta Ogisi, Dean, Faculty of Agriculture, Delta State University, stressed that the manufacturing sector was crucial in the development of any nation.

Ogisi, however, noted that corruption, inflation, unstable exchange rate and poor infrastructure had continued to hamper the growth of the manufacturing sector.

She lamented the poor state of connecting roads between Edo and Delta, noting that it was slowing down manufacturing activities in the region.

Also, the outgoing Chairman of MAN, Edo/Delta branch, Dr Okwara Udensi, urged the Federal government to remove all bottlenecks in the power privatisation agreement with the Discos.

“The government should open the sector for private investors to generate and distribute power to the people; that way, there will be competition and the sector will be better for it.

“We will not be able to compete favourably well at the Africa Free Trade Zone if we don’t resolve the challenges confronting the manufacturing sector,” he said.

Udensi also reiterated the need for the establishment of manufacturer’s bank in the country to address the financial needs of the manufacturing sector.

The highpoint of the event was the election of Mr Osadolor Ehizogie, as the new chairman for the Edo/Delta branch of MAN.

The 37th AGM was tagged Nigeria’s Economic Environment: The Consequences on the Growth and Sustainability of the Manufacturing Sector in Nigeria.”

MAN

MAN urges Rivers govt. to gear up for industrialisation agenda

,

Port Harcourt, Nov. 1, 2023 (NAN) The Manufacturers Association of Nigeria (MAN), on Tuesday called on Rivers State Government to set up the state investment promotion office in order to actualise the industrialisation agenda.

The National President of  MAN, Mr Otunba Meshioye, made the call at a two-day Annual General Meeting (AGM) of the association for 2023 in Port  Harcourt.

Meshioye said that the consequences of the recent development of government reform measures, pronouncements and policies made the AGM mandatory to engage partners and government on sensitive issues.

He listed some of the recent reforms to include the removal of fuel subsidy, structure of the narrative rates and the increase in monetary policy rate.

“The consequences of this nature has made the annual general meeting with the theme, “Re-igniting Industrialization and Enterpreneurship in South-South Region” apt and quite timely,” he said.

Meshioye said the poor performance of the national economy in the last few years, which the federating states were part of, had made it imperative for state governments to appreciate the real sector’s contributions in job and wealth creation.

He said that the association applauded the state government for the improved road network which cut across the 23 local government council.

He urged government to recognise the need to harmonise taxes in the state to make it easier for the manufacturing business to prosper.

He appealed for closer relationship between MAN and the government in order to inspire investors’ confidence while calling for transformation of the Onne Seaport to maximise the business and triple potentials of the region.

Meshioye urged the state government to develop industrial zones and clusters with infrastructures as well as provide enabling environment for the association to thrive in the state.

He said that the development would boast activities of industries and expand job creation for the citizenry of the state.

The National President urged MAN members to continue to fulfil their obligations by prompt payment of their dues and subscriptions.

Also speaking, Mr Vincent Okoku, the Chairman, MAN Rivers/Bayelsa State, noted that no nation becomes industrialised without manufacturers association.

Okoku called on the federal government to pay special attention to manufacturing institution, develop road, rail and water ways exports.

Speaking on “Re-igniting Industrialization and Entrepreneurship in the South-South Region” in his keynote address, Mr Kevin Uwaibi stated that industrialization begot job creation, economic development,  technology, infrastructure development while reducing crime in a region.

Uwaibi, who is the Managing Director, Edo State Investment Promotion Office, said that for South-South region to be industrialized, skills were needed to be put at the front burner.

MAN

MAN lauds credit facility to re-energise MSME, real sector

, ,

Lagos, Aug. 1,  2023: The Manufacturers Association of Nigeria (MAN) has commended President Bola Tinubu for the proposed credit interventions to revitalise the manufacturing sector and Micro, Small and Medium Enterprises (MSME) and mitigate the impact of fuel subsidy removal.

Director-General, MAN, Mr Segun Ajayi-Kadir, said on Monday night in Lagos in reaction to the President’s broadcast.

President Tinubu unveiled plans to provide a N75 billion credit facility between July 2023 and March 2024 to 75 enterprises to strengthen the manufacturing sector.

He added that his administration would energise MSMEs and the informal sector with N125 billion among other schemes to engender sustainable economic growth.

Ajayi-Kadir noted that the assurances in the President’s broadcast represented part of the follow up measures manufacturers had appealed for and was more beneficial than palliatives that would only give nominal relief.

He lauded the Federal Government’s move to work in a coordinated manner with local and state governments to deliver interventions that would cushion the effect of the hardship across the socio-economic brackets.

The MAN DG said the recently signed four executive orders had set the stage for the much sought-after relief for the manufacturing sector.

According to him, it had become possible to return to their business projections and to look toward a possible profitable production in the affected sectors.

Ajayi-Kadir said the promise that 75 manufacturing enterprises would access N1billion credit at 9 per cent interest rate per annum and working capital was commendable.

He noted that the allocation of N125 billion to energise the MSME segment would give fillip to their businesses and help overcome the paucity of funds occasioned by low capacity utilisation and unprecedented low sales in recent times.

“It is a good start to begin to address the dearth of loanable funds in the face of rising lending rate occasioned by the continued increase in the MPR by the Central Bank of Nigeria (CBN).

“It is however very important and critical that the vehicles for the delivery of these loans should be carefully selected and the implementation diligently monitored.

“The Bank of Industry (BOI) has shown excellent performance as an appropriate transaction structure for such facilities.

 It is equally important to ensure that the promised 3000 units of 20-seater buses be procured from indigenous automobile Industries.

“This is a golden opportunity for the Federal Government to demonstrate unfailing commitment to the implementation of the subsisting Executive Order 003, which prioritises the patronage of made in Nigeria products,” he said.

MAN

MAN praises new industrial policy, sees better days ahead

The Manufacturers Association of Nigeria (MAN) has commended President Bola Tinubu’s industrial policy to utilise the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.

Mr Segun Ajayi-Kadir, Director General, MAN, said on Monday in Lagos, in a reaction to the inaugural address by Nigeria’s 16th President.

Tinubu during his inaugural speech said his administration would promote domestic manufacturing, significantly reduce unemployment, continue to drive infrastructural development among other promises.

Ajayi-Kadir said the industrial policy which was an unmistakable indication of a far sighted strategic choice also assured the sector of better days ahead.

He said that economic issues in the President’s speech resonated with the general business community.

The economic issues include multiple taxation, conflicting fiscal and monetary policies, poor foreign exchange management and fuel subsidy removal.

“I would like to start by congratulating the newly elected President Bola Tinubu on his assumption of leadership of the country today.

“As you would imagine, change in administration is usually greeted with expectations and as an advocacy group, we surely look forward to a number of policy changes and decisions.

“For me, this is a positive development that is borne out of a deep reflection over the current inclement manufacturing environment and the need to stop the drift into inglorious de-industrialisation of the Nigerian economy.

“What is most gratifying is that it came from Mr President from day one.

“A marching order, so to say, is needed to move the Central Bank of Nigeria (CBN) toward a unified exchange rate and I am glad that Mr President was very clear on this,” he said.

The MAN DG expressed hope that Nigeria’s 16th President in line with his promise to enable a supportive fiscal policy regime, would order a reversal of government‘s three-year excise escalation roadmap on alcoholic beverages and tobacco.

According to him, the latest hike as contained in the 2023 Fiscal Policy Measures was not only going to ruin the affected sectors, but would be counterproductive for government revenue in the near future.

Ajayi-Kadir said in line with this optimistic beginning of the President, the CBN should be prevailed upon to give priority to the allocations of foreign exchange to the productive sector.

He said that this was critical, particularly to manufacturers to import raw materials, spares and machinery that were not locally available.

He added that the new government should direct the Nigerian Electricity Regulatory Commission (NERC) to admit all qualified applicant companies into the Eligible Customer Scheme, to allow them access power as stipulated in the Electric Power Sector Reform Act 2005.

Ajayi-Kadir urged government to direct all relevant agencies of government to ensure that the electronic call-up system at ports aimed at redressing the congestion worked without fail.

He implored government to revisit the Finance Bill 2022 to ensure it includes the critical inputs of the organised private sector.

“In particular, the jettisoning of the highly objectionable removal of the 10 per cent investment allowance on acquisition of plants and machinery as stated in the Company Income tax Act, section 32.

“Additionally, to ensure that the imposition of the 0.5 per cent levy on eligible imports from third countries is limited to goods that we have capacity to produce locally and quite importantly, exclude raw materials that are not locally available.

“The input of the organised private sector on the Customs and Excise Management Act (CEMA) should also be taken on board before the amendment bill is signed into law.

“We ask that government announce a special policy initiative to address the revival of closed and distressed industries, particularly in the north-east where 60 per cent of our member companies have closed,” he said.

MAN

MAN commits to green manufacturing

,

The Manufacturers Association of Nigeria (MAN) has expressed readiness to support green manufacturing to ameliorate the negative impacts of their production activities on the environment.

Otunba Francis Meshioye, President, MAN, said this at the maiden edition of MAN Strategic Dialogue Session on Environment and Green Manufacturing in partnership with Natural Eco Capital on Thursday in Lagos.

Meshioye, describing green manufacturing as the current global phenomenon said MAN was committed to guiding its members to make significant progress in this regard.

To achieve this, he said, that the association in January created the Environment and Green Manufacturing Unit with the responsibility of stirring awareness among MAN members on climate change issues and Environmental Management System.

He said the unit in providing members with strategies and necessary information needed to drive environmental sustainability was set to collaborate with relevant institutions and international agencies in achieving its mandates.

“This novel unit amongst other things would guide and encourage seamless transition of members manufacturing processes through the assistance of relevant agencies and organisations to an eco-friendlier production environment.

“This can be achieved through the utilisation of leading technologies and practices on the environment and create mechanisms for sustainable development.

“It will be supporting and facilitating the adaptation of clean and renewable energy by manufacturers while encouraging them to build and develop capacity in environment and green manufacturing,” he said.

In his keynote address, the Director-General, National Environmental Standards Regulations and Enforcement Agency, Prof. Aliyu Jauro, noted that air quality had become a major concern in many parts of the world.

This, Jauro said, led to the need for growing awareness to address air pollution and its impact on public health and the environment.

He said that Nigeria, like many other countries, was already experiencing the impacts of climate change such as increasing temperatures, changing rainfall patterns, and more frequent and severe extreme weather events (floods and droughts).

Jauro, however, said that Nigeria had since taken steps to implement climate mitigation and adaptation measures, including the development of renewable energy sources and sustainable land-use practices.

“Since the ratification of the Paris Agreement, Nigeria has been very forthcoming in turning ambitions into implementable policies and aligning its environmental regulatory regime with the goals of the Paris Agreement.

“There is the need to prioritise the implementation and enforcement of environmental regulations, as well as the development of policies and incentives to promote a low-carbon economy.

“Industries switching to cleaner technologies and transitioning to low-emission development are indispensable for achieving sustainable economic growth through pathways that yield reduced greenhouse gas emissions and other social, economic, and environmental benefits,” he said.

Dr Eugene Itua, the Chief Executive Officer, Natural Eco Capital, said that the adoption of sustainable manufacturing was with enormous benefits and could engender competitiveness and a more resilient economy.

Itua noted that there was a spectrum of efforts to be made toward sustainable manufacturing such as the use of renewable materials, modification of production processes, and use of reusable, biodegradable products.

“Industries must change their manufacturing process to minimise waste, conserve raw materials, and capture and reuse waste materials.

“We must also utilise new technologies involves incorporating more environmentally responsible technologies and equipment into your production process,” he said.

MAN

MAN backs SON’s introduction of product authentication marks

,

The Manufacturers Association of Nigeria (MAN) has backed the effort of Standards Organisation of Nigeria (SON) to introduce Product Authentication Mark (PAM) to checkmate influx of substandard goods into Nigeria.

MAN President, Otunba Francis Meshioye, said this at a stakeholders sensitisation forum on PAM on Thursday in Lagos.

Meshioye represented by the Director, Corporate Services Division, MAN, Mr Ambrose Oruche, said the move would asides checkmating the influx of fake products, protect local manufacturers from unfair competition.

According to him, the move is a welcome development especially at a time when most economies of the world were operating border-less trade.

He added that the development was also critical in the face of the Africa Continental Free Trade Area (AfCFTA) to prevent Nigeria from being a dumping ground for inferior goods.

“We are delighted that this scheme serves as a clear demonstration of SON’s confidence in local manufacturers and we would key into any initiative that is aimed at protecting our members and Nigerians at large,” he said.

Director General, SON, Mallam Farouk Salim, said local manufacturers were excluded from the initiative to prevent additional cost for them.

He stated that the target products of the initiative are imported finished products while local manufacturers were free to join voluntary.

“What we hope to do eventually is that if the manufacturer sees the benefit of PAM with importers, they will eventually join us because the programme is very useful for anyone producing authentic and standard goods.

“This particular mark is like a naira mark, but we are planning to use specialised machines, papers, security codes.

“Our inspectorate and compliance department are always there and with the help of our customers, anybody breaking the rules would be prosecuted, their goods would be seized and the court will give us permission to destroy those goods,” he said.

Salim urged dealers of substandard goods to desist from the act of short-changing Nigerian with goods that have no economic value.

He reiterated the commitment of SON to continue to be on top of its game to checkmate the activities of unscrupulous elements in the country.

The SON DG revealed that plans were underway to upgrade the SON Act, with a public hearing at the National Assembly in tow with hopes that the bill is passed and signed by President Muhammadu Buhari or the incoming administration.

“We are working on it and we would make sure we follow all the rules and the public is protected,” he assured.

The Director, Product Certification, SON, Engr Onucheyo Enebi, said the introduction of PAM became necessary because the agency had been inundated with complaints from consumers over the influx of substandard goods into the country.

He said the substandard products meant customers do not get value for their money, so PAM would give buyers the opportunity to confirm the authenticity of the product before even paying for it.

Enebi revealed that the mark had over 10 elements to detect authenticity upon scanning the QR code.

“All you have to do is send an SMS to 281 or scan the QR code with your Android or IOS phone and you will get an instant response.

“I want to encourage Nigerians that whenever they scan a product and you realise that the product is substandard, please do not keep quiet, but raise an alarm so that the relevant agencies can carry out an enforcement exercise,” he said.

MAN

MAN happy over halting excise duty increase on beverages, tobacco

, ,

The Manufacturers Association of Nigeria (MAN) has lauded the Federal Government’s plan to halt the proposed increase in excise duty on alcoholic, non-alcoholic beverages and tobacco.

Director-General, MAN, Mr Segun Ajayi-Kadir, made the commendation in a statement signed by Mrs Omotayo Okewunmi, Public Relations Officer, MAN, to newsmen on Tuesday in Lagos.

Ajayi-Kadir said the gesture was part of government’s commitment to the well-being of the real sector.

In 2022, the introduction of excise duty on N10 per litre on all non-alcoholic, carbonated and sweetened beverages in the country was part of a new policy introduced in the Finance Act.

Ajayi-Kadir noted that apprehensions from the proposed plan to increase excise duty necessitated a courtesy visit to the Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed.

He revealed that the delegation led by MAN President, Otunba Francis Meshioye, was with outcomes that allayed the fears of manufacturers.

He said the Minister assured that the guidelines would not include the proposed increase in excise duty on beer, wines and spirits, tobacco and non-alcoholic beverage in 2023.

He said the guidelines would rather allow the excise regime to run its full course from 2022 to 2024 as programmed in the road map by the Federal Government in 2022.

“The association is gladdened by the assurances of the honourable minister that the 2023 fiscal policy guidelines and the reconsideration of the Finance Act 2023 have been concluded and would be released immediately.

“This comes as a huge relief to our members across the Federation and will signpost the administration’s support for the sustenance of manufacturing in Nigeria on this score,” he said.

Ajayi-Kadir said MAN received the understanding of government on the introduction of 0.5 per cent import surcharge to fulfill Nigeria’s obligations to the implementation of Africa Continental Free Trade Area (AfCFTA) agreement.

The MAN DG added that the association had noted government’s promised intervention on resolving the logjams in the interpretation of the Tin Plate, HS Code 7210. 12.00.00 with the Nigeria Customs Service.

According to him, from the foregoing, the association viewed the Federal Government’s move as one that will encourage manufacturers currently struggling with unprecedented low sales, foreign exchange squeeze and other challenges.

“These moves will reassure members of the administration’s respect for stakeholder’s engagement and the usefulness of public-private sector dialogue.

“As MAN continues to engage with government meaningfully on matters bordering on the nation’s economic prosperity, we look forward to improved performance of the manufacturing sector and the economy,” he said.

Load More