Business

MAN Is Wooing Tinubu On Anti- Manufacturing Policies

Published

3 years ago

June 1, 2023

416 Views

The Manufacturers Association of Nigeria has requested President Bola Ahmed Tinubu, to look into the fiscal and monetary policies of the government that are hindering industrial growth.

The Association also applauded President Tinubu for the swift stoppage of the fuel subsidy, and said ,” It is an unmistakable indication of a far-sighted strategic choice.”

MAN, in its reaction to PresidentTinubu’s inauguration speech, said, ” Change in administration is usually greeted with expectations and as an advocacy group, we surely look forward to a number of policy changes and decisions.”

Segun Ajayi- Kadir, the Director- General of the Association, noted that the manufacturers are eager to see President Tinubu matches his words with actions regarding.
Tinubu had in his inuauguration speech promises ” industrial policies that will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.”

Segun Ajayi- Kadir, listed some of the policies of the previous goverments needing overhauls, to include the followings :

* A marching order, so to say, is needed to move the Central Bank towards a unified exchange rate.

* A reversal of the unwarranted violation of the government’s three-year excise escalation roadmap on alcoholic beverages and tobacco.

Direct the NERC to admit all qualified applicant companies into the Eligible Customer Scheme in order to allow them access to power as stipulated in the Electric Power Sector Reform Act 2005.
Direct all relevant agencies of government to ensure that the electronic call-up system at ports aimed at redressing the congestion works without fail.
Revisit the Finance Bill 2022 to ensure it includes the critical inputs of the organized private sector. In particular, the jettisoning of the highly objectionable removal of the 10% investment allowance on the acquisition of plants & machinery (in the Company Income Tax Act, section 32). Additionally, to ensure that the imposition of the 0.5% levy on eligible imports from third countries is limited to goods that we have the capacity to produce locally and quite importantly, exclude raw materials that are not locally available.
The input of the Organised Private Sector on the CEMA bill should also be taken on board before the amendment bill is signed into law.

*Announce a special policy initiative to address the revival of closed and distressed industries, particularly in the northeast where 60% of our member companies have closed.

*Craft and announce a special policy initiative to leverage diaspora expertise and investment to address evident gaps and help to boost the performance of the economy.

Direct all ministries, departments, and agencies of government to unfailingly comply with Executive Order 003 on the patronage of made-in-Nigeria products.
In this regard, there should be strict application of the margin of preference, effective monitoring and periodic evaluation of compliance, and appropriate sanctions meted out to MDAs acting in breach of the executive order.
Announce a special policy initiative to derisk manufacturing and release adequate funding for the sector through effective funding of special lending windows.

Related Topics:Anti Manufacturing Policies MAN Tinubu

Up Next

Zenith Sustains Banking Industry’s Best Corporate Governance Awards

Don't Miss

Subsidy Removal: Oil Marketers in Nigeria Explains Why Petrol Price Can’t Be Less Than N500/Litre

Click to comment

Business

NBS rates Lagos most indebted Nigerian state with N1.22trn domestic debt

While Lagos State had the highest domestic debt in Q4 2025 with N1.22 trillion, Rivers came second with N378.81 billion, while Jigawa State recorded the lowest with N1.60 billion, followed by Ondo with N8.42 billion.

Published

14 hours ago

May 7, 2026

OCHEFA

42 Views

• Lagos Governor , Babajide Sanwo-Olu

Lagos State has been ranked emerging as the most indebted state in Nigeria, owing creditors a total of N1.22 trillion and $1.17 billion in domestic and external debts, respectively,

In its Q4 2025 domestic and external debt report, the National Bureau of Statistics (NBS) said that the country’s total debt stock, comprising domestic and external debt, rose from N153.29 trillion or $103.94 billion in Q3 2025 to N159.28 trillion or $110.97 billion in Q4 2025.

The report said this represented an increase of 3.90 per cent on a quarter-on-quarter basis, adding that total external debt stood at N74.43 trillion, while total domestic debt was N84.85 trillion in Q4 2025.

The share of external debt, in naira value, was 46.73 per cent in Q4 2025, while the share of domestic debt, also in naira value, stood at 53.27 per cent of total public debt.

Lagos State also recorded the highest external debt over the reference period with $1.17 billion, followed by Kaduna with $684.29 million, while the Federal Capital Territory (FCT) had the lowest with $26.80 million, followed by Zamfara with $41.93 million, the NBS said.

According to the bureau, other heavily indebted states are Bauchi with $220.57 million and N156.05 billion as external and domestic debts respectively;

Delta with $63.42 million and N248.83 billion as external and domestic debts respectively; and Enugu with $99.88 million and N157.60 billion as external and domestic debts, respectively.

Business

Dangote unveils ambitious plan for 20,000MW power project

“We are now going into power… 20,000 megawatts,” said Dangote during a conversation with International Finance Corporation Managing Director Makhtar Diop, adding that Africa’s most pressing needs remain energy, fertilisers, and industrial inputs.

Published

19 hours ago

May 7, 2026

OCHEFA

41 Views

Aliko Dangote, the billionaire behind Africa’s largest industrial conglomerate, is determined to end Nigeria’s epileptic power sector with a plan to generate 20,000 megawatts of electricity.

Dangote’s entry into the sector follows a string of failed promises from the Nigerian government.

Adebayo Adelabu, ex-Power Minister, has repeatedly missed deadlines to stabilise the grid at even 6,000 megawatts, a fraction of what Dangote is now proposing.

Business

Enugu govt to build 660MW coal-fired power plant

Governor Peter Mbah disclosed this during a solidarity visit by the leadership of Organized Private Sector Nigeria (OPSN) to him at the Government House, Enugu, yesterday.

Published

19 hours ago

May 7, 2026

OCHEFA

46 Views

Photo: A coal fired power plant in Hanchuan, Hubei province, China / Getty Images

Enugu State Government has concluded plans to build a 660MW coal-fired power plant in the state.

Governor Peter Mbah disclosed this during a solidarity visit by the leadership of Organized Private Sector Nigeria (OPSN) to him at the Government House, Enugu, yesterday.

” I am pleased to inform you that in July, we will break ground for a 660MW coal-fired power plant.The outlay in terms of time for building the plant is 24 months. So, our target is to commission that power plant 24 months after the groundbreaking in July,” said Mbah.

Mbah recalled that Enugu State, under his leadership, was the first subnational to set up an electricity market, following the Constitution and Electricity Act amendments that effectively transferred power from the Exclusive List to the Concurrent List, thus paving the way for states to participate in all the power value chain, namely generation, transmission, and distribution.

The governor allayed concerns normally associated with coal, citing the low sulfur content and high calorific value of Enugu coal, standing at about 7,000 kilocalories per kilogramme.

He said the project was not a knee-jerk decision, as his administration had taken about two years to undertake the necessary studies and also secure coal assets to guarantee unhindered supplies to the plant.