A pencil manufacturer, Mr Muideen Ibrahim, has urged the Federal Government to urgently declare a state of emergency in the manufacturing sector to revamp the economy.
Ibrahim, the Chief Executive Officer (CEO) BAMIB Resources & Investments Company Limited, made the appealwhile speaking with the News Agency of Nigeria (NAN) in Lagos on Tuesday.
The manufacturer noted that the erratic power supply, double taxation and government’s inadequacies, poor regulatory framework and low demand for products and services, among others, were the challenges faced by manufacturers.
Ibrahim explained that declaring a state of emergency would totally revamp the sector and make it to contribute tremendously to the Gross Domestic Product (GDP) of the country.
“The government can come in to support manufacturers in various ways by creating enabling environment and implementing workable policies.
“This is by giving them interventions, incentives and real support that will see them through all the various stages of manufacturing and growth.
“Power supply is very key and the importance of power to good manufacturing cannot be overemphasised. So the government should fix power as a matter of utmost urgency.
“This is because many manufacturers have closed down due to the erratic power supply. Unfortunately, diesel price has skyrocketed to N1,600 per litre or more, depending on location.
“The government should also provide basic infrastructure for the manufacturers as well,” he said.
According to Ibrahim, the government can also create technology incubation hubs in all the local government areas and the sate capitals as as initiative to revamp manufacturing sector.
The manufacturer also urged the Federal Government to urgently create a Ministry of Small, Medium Enterprises (SMEs) in the country.
The CEO said this was obtainable in other climes “where SMEs were doing very well because the importance of SMEs in any nation cannot be over emphasised”.
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