Stakeholders in the manufacturing sector have called for urgent investment and strategic support to revitalise Nigeria’s economy through non-oil exports.

The appeal was made at the 36th Annual General Meeting of the Manufacturers Association of Nigeria (MAN), Anambra/Ebonyi/Enugu Chapter, held in Enugu on Friday, themed “Revitalising Nigeria’s Economy Through Manufacturing-Driven Non-Oil Export.”

Chairperson of the MAN chapter, Lady Ada Chukwudozie, emphasised the pressing need for Nigeria to shift from its oil-dependent economy by strengthening the manufacturing sector.

She highlighted that the nation’s overreliance on oil has exposed it to challenges like price volatility, environmental degradation, and limited economic diversification.

“To ensure economic sustainability, Nigeria must prioritise manufacturing-driven non-oil export strategies, as seen in countries like Singapore, where innovation and research have propelled their manufacturing sector to global competitiveness,” Chukwudozie stated.

She further urged the government to implement supportive policies, such as tax incentives, improved access to financing, and investment in critical infrastructure.

Keynote speaker and former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dakuku Peterside, described manufacturing as the “master key” to addressing Nigeria’s economic challenges.
“Export-driven manufacturing can reduce our vulnerability to oil price fluctuations, generate revenue, and create jobs,” Peterside said, while advocating for infrastructure development, stable monetary policies, and power sector reforms to support manufacturers.

Anambra State’s Deputy Governor, Dr Onyekachukwu Ibezim, called for collaboration among Southeast states to leverage their comparative advantages. He cited Anambra’s agricultural revolution in palm and coconut production as an example of non-oil sector innovation.

The event also featured awards to distinguished individuals and highlighted the urgent need for a united approach to reposition Nigeria’s manufacturing sector as a driver of economic growth.

Yoruba socio-political group, Afenifere, in the United Kingdom and Europe, has said that the “no pain, no gain” philosophy of the President Bola Tinubu-led government has reached its limit across the nation.

In a statement issued on Friday by its Secretary, Engineer Anthony Ajayi, in London, United Kingdom, the group acknowledged that while the current economic struggles were inherited from the previous administration of Muhammadu Buhari, some policies introduced by the Tinubu’s government have exacerbated the situation and require urgent review to alleviate the hardship.

Afenifere warned that if the situation worsens, many Nigerians could face even greater difficulties in their daily lives.

The group called on President Tinubu to use the remaining days of 2024 to prioritise the review of his policies and governance style in order to provide relief to the people by 2025.

It also urged both federal and state governments to introduce palliative measures to ease the suffering of Nigerians, especially during the holiday season.

“The time to get serious about good governance is now. Nigerians have suffered enough, and the situation cannot become any worse than it already is.

“This hardship is not just limited to those within Nigeria; Nigerians abroad are also feeling the impact. We urge President Tinubu to demonstrate leadership, put aside political agendas, and position himself positively in history.

“While he inherited many of these challenges from Buhari, he must show the capacity and resolve to lead,” the statement read.

On the President’s proposal to borrow an additional N1.77 trillion to cover the N9.7 trillion budget deficit for 2024, Afenifere expressed strong opposition, warning that continued borrowing would further devalue the Naira and damage the national economy.

The group stressed that borrowing is not a viable solution, given Nigeria’s heavy reliance on imports.

“We are not against borrowing in principle, but the question remains: what has the borrowing achieved? If the money borrowed only leads to more suffering for the masses, then the purpose of borrowing is defeated.

“Borrowing would be more justifiable if it were used prudently to improve infrastructure, foster industrial growth, and strengthen the economy.

“President Tinubu should consider bringing in creative and innovative economic technocrats into his cabinet, similar to the approach taken by the UK, to curb further borrowing.

“The UK government no longer needs to borrow; it can create money at will through the Bank of England.

“This model of economic management should be studied and adapted by Nigeria to break the cycle of borrowing.”

Afenifere also highlighted Nigeria’s potential, urging the government to create an enabling environment for the industrious and hardworking population to contribute more effectively to the national economy.

The group expressed optimism about the progress made with the Port-Harcourt refinery, noting that it was nearing 70% completion and could soon begin operations.

They however commended President Tinubu for achieving this milestone, which was previously unattainable by past administrations.

“If all nine of Nigeria’s refineries were fully operational, there would be a significant improvement in the Naira’s value and the overall economy.

“The federal government must continue to foster the right conditions for such progress,” the statement added.

Afenifere called on Nigerians both at home and abroad to hold their state governors accountable for how they are utilizing the funds allocated to them.

“State governments are closer to the people, and it is important that we not only pressure the federal government but also hold our state governors to the same standard. We must ensure that the resources sent to the states are used effectively for the welfare of the citizens,” the group concluded.

The Oyo State Government has abolished the N4,000 administrative fee previously required for civil servants to access their retirement forms.

This decision, aimed at easing the financial burden on retirees, was announced in a statement issued by the state Commissioner for Establishments and Training, Olusegun Olayiwola, on Friday.

Olayiwola, speaking on behalf of the Commissioner for Information and Orientation, said the move aligns with Governor Seyi Makinde’s commitment to improving the welfare of retirees.

“Previously, retirees were required to pay N4,000 to obtain a retirement form at the Ministry of Establishments and Training. However, following the governor’s directive, we have designed an electronic form that retirees can now access online, free of charge,” he explained.

The commissioner emphasized that this change reflects the governor’s continued efforts to prioritise retirees’ welfare, noting that Makinde had increased monthly gratuity payments from N250 million to N500 million.

This adjustment, he said, has allowed more retirees to receive their payments on time and without any issues.

“The removal of the N4,000 fee is a significant step towards reducing financial stress on retirees. It also highlights the government’s commitment to streamlining processes and eliminating unnecessary costs,” Olayiwola added.

He further noted that the introduction of e-payment for gratuity benefits ensures seamless and secure transactions, underlining the administration’s dedication to improving the welfare of retirees.

The Permanent Secretary, Olajide Okesade, also expressed his appreciation for the cancellation of the fee, calling it a positive step towards alleviating the financial strain on retirees and demonstrating the government’s genuine concern for their well-being.