MAN President, Others Demand Manufacturing Reforms

Blessing Ibunge in Port Harcourt The President of the Manufacturers Association of Nigeria (MAN), Dr Ifeanyi Okoye, has called on the Federal Government and state governments to introduce far-reaching reforms in the manufacturing sector, particularly in the areas of electricity, taxation, infrastructure and access to affordable finance. Okoye made the call on Wednesday at the 2026 Conference, Exhibition and 42nd Annual General Meeting of MAN Rivers/Bayelsa States Branch, in Port Harcourt, where he lamented the high cost of production and unfavourable lending conditions confronting Nigerian manufacturers. Speaking on the conference theme, “Manufacturing for National Development: Integrating Education, Skills, Investment and Tax Incentives in Nigeria,” the MAN president said manufacturers could not survive under prevailing economic conditions, citing electricity tariffs of about N285 per kilowatt-hour, diesel prices of approximately N2,000 per litre and lending rates of between 32 and 36 per cent. He argued that the high cost of financing placed Nigerian manufacturers at a disadvantage compared with foreign competitors, particularly Chinese companies reportedly enjoying interest rates as low as three per cent. In his keynote address, MAN Vice President, East, Okenze Sylvester Obinna, stressed that Nigeria could not achieve sustainable economic prosperity without a strong and competitive manufacturing sector. He called for closer collaboration between universities, technical institutions and industries to produce graduates equipped with practical and technical skills required by manufacturers. Meanwhile, the outgoing Chairman of MAN Rivers/Bayelsa States Branch, Vincent Okuku, highlighted the achievements recorded during his tenure, describing the occasion as an opportunity to strengthen the branch’s institutional foundation. Okuku disclosed that his administration upgraded the branch secretariat, acquired a bus to support official activities and improved its revenue profile by approximately 800 per cent.