The Manufacturers Association of Nigeria (MAN) has underscored the critical importance of creating a conducive business environment for the productive sector to achieve Nigeria’s aspirations of rapid industrialization and economic diversification.

Francis Meshioye, the association’s President, made this assertion on Tuesday during the 2023 Annual Nigeria Manufacturing and Equipment Expo, held in conjunction with the Nigerian Raw Materials Exposition.

Themed “Future Manufacturing: Building a Sustainable Roadmap to the Industrialization of Nigeria,” the three-day Expo aimed to provide a platform for stakeholders in the raw materials supply chain to collaborate, showcase, and trade available resources and materials.

Meshioye highlighted that achieving the vision of an industrialized Nigeria hinges on resolving constraints affecting the ease of doing business.

He stressed the need for synergy between trade and industrial policies, incorporation of advanced technologies, political stability, investment prospects, business-friendly trade agreements, Industry 4.0, and policies empowering start-ups and female manufacturers.

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He stated, “Improved political stability; growing investment prospects; business-friendly trade agreements; Industry 4.0; enforcement of policies empowering start-up and female manufacturers; in addition to governmental funding solutions, to name a few, are pivotal factors demonstrating a positive and thriving manufacturing future.”

Despite concerns about Africa lacking requirements for global advancements, Meshioye noted that African countries, including Nigeria, possess a higher degree of flexibility due to being uninhibited by infrastructure legacy challenges.

Doris Uzoka-Anite, the Minister of Trade and Investment, emphasized the need for diversification amid global oil market volatility.

She urged leveraging emerging trends such as artificial intelligence, automation, robotics, and the Internet of Things to enhance manufacturing processes and drive productivity.

The keynote speaker, Aliyu Abdullahi, expressed concerns about insecurity hindering the establishment of factories in regions abundant with raw materials in Nigeria.