The Director General of the Manufacturers Association of Nigeria (MAN), Mr. Segun Ajayi-Kadir, has clarified that the association is not requesting subsidies from the federal government, but rather strategic interventions to revitalise Nigeria’s struggling manufacturing sector.
Speaking during an interview on ARISE NEWS on Wednesday, Ajayi-Kadir said MAN remains committed to a private-sector-led economy and does not support subsidy regimes.
“We are a private sector group, and we would not be asking for subsidies,” he stated. “In fact, we were among those who advocated for the removal of subsidies in any form. What we are asking for is specific and targeted intervention.”
He identified key areas where government intervention is urgently needed, including the high cost of power, unresolved foreign exchange obligations, and limited access to credit facilities.
“For instance, regarding the cost of power, we believe that industrial zones deserve special attention. There should be efforts to reduce electricity tariffs in those areas. The recent 250% increase in power cost is excessively high,” Ajayi-Kadir said.
He also expressed concern over the delay in the disbursement of the federal government’s promised N1 trillion stabilisation fund for the manufacturing sector.
“The $75 billion recently allocated to manufacturers by the Bank of Industry has already been fully disbursed. We are now waiting for the N1 trillion fund pledged under the stabilisation plan,” he said, noting that the sector’s total financing needs are estimated at about N5 trillion, according to UNIDO.
Ajayi-Kadir further highlighted the impact of insecurity, particularly in Nigeria’s Northeast, on industrial operations. He called for swift government action to restore normalcy and enable manufacturers to resume production in affected regions.
“We want the government to support efforts to get our people back into factories, especially in the Northeast where insecurity has forced many operations to shut down,” he added.
The MAN boss maintained that with the right policy support and intervention, Nigeria’s manufacturing sector has the potential to drive inclusive economic growth, create jobs, and contribute significantly to national development.
