Business

MAN Tasks FG To Strictly Enforce Local Content Laws in Manufacturing Sector

Published

3 years ago

October 20, 2023

OCHEFA

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By Ocheneyi Alli

The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to ensure strict enforcement of local content laws in the manufacturing sector of the economy.

Otunba Francis Meshioye, the President of MAN, made the call during the 3rd Adeola Odutola Lecture / 51st Annual General Meeting (AGM) of MAN, with the theme “Setting the Agenda for Competitive Manufacturing under the AfCFTA: What Nigeria Needs to Do.”

Meshioye, observed that Nigeria has a low local content adoption and patronage of made in Nigeria products, and therefore, urged the government to ensure effective enforcement of local content and patronage regulations.

He said this can be achieved by strict enforcement of local content laws, giving incentives for local sourcing of raw materials, and innovation in the manufacturing sector.

He said that the government should also compel the public sector at all levels to , as a matter of national importance, step up their compliance with existing government directive on patronage of made-in-Nigeria products, including Executive Orders 003 and 005.

In addition he said the manufacturing sector is one of the sectors of the economy with wide sectoral interlinkages.

“However, the low level of development of auxiliary sectors is disentangling the manufacturing sector from the rest of the sectors.

This is more so in agriculture, iron and steel and mining sectors.

“This has resulted in a limited supply of raw materials and other input for the manufacturing sector,” he said .

Therefore, it is essential to encourage backward integration and sectoral linkages to promote a more sustainable manufacturing sector in Nigeria.” he advised.

At the event, the Minister of Industry Trade and Investment, Dr. Doris Uzoka-Anite, extended the Federal Government’s assurances of collaboration to the local manufacturers towards enhancing their competitiveness .

She said the current administration envisions industrial revitalisation and is committed to covering real aspects of industrialization from consumer credit, fiscal and monetary policy alignment and continuous engagement in delivering the presidential initiatives.

Represented by Dr. Rabiu Olowo, Director-General, Financial Reporting Council of Nigeria, the Minister said that to harness full benefits of the AfCFTA, ” we must deploy strategic interventions in the manufacturing sector to enhance competitive edge, seeing the manufacturing sector is the backbone of any economy.

Aganga urged the Federal Government to declare the Industrial sector a national priority sector and back it with plans, policies and money.

“To maximise the opportunities presented by the AfCFTA, there are four imperatives which are combined responsibility of government and manufacturing sector; robust public private partnership particularly in the area of research and development to enhance the strength of manufacturing, supporting Micro, Small and Medium Enterprises (MSME) with capacity and potential for exports and investment in infrastructure and technology.

“We also must enhance quality standards and performance and adhere to international quality standards.”

Likewise, Dr. Olusegun Aganga, a former minister of Industry , added that the continued flooding of the domestic market with cheaper and substandard products from China and elsewhere would derail the country’s plans to dominate AfCFTA as the largest market in the continent.

Aganga urged the Federal Government to declare the Industrial sector a national priority sector and back it with plans, policies and money.

The Former Minister pointed out that embracing competitive manufacturing under the AfCFTA is crucial for Nigeria’s economic growth and integration into the global market place.

“Nigeria may not be able to compete with China now, but by investing in infrastructure, innovation and skilled labour, while addressing trade barriers, the business environment and promoting market access, Nigeria can certainly position itself as the manufacturing hub in Africa.

“Let us work together and seize this historic opportunity and create a prosperous and vibrant manufacturing sector that will benefit Nigerians and contribute to the economic development of the African continent as whole,” he said.

Related Topics:3rd Adeola Odutola Lecture and 51st AGM of MAN Local Content in manufacturing sector

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Tony Elumelu’s United Capital Secures approval to operate in Ethiopia

Elumeu lauded the transformational Prime Minister of Ethiopia, His Excellency @AbiyAhmedAli , for promoting economic reforms and regional cooperation, the Director General of Ethiopian Capital Market Authority @CMAEthiopia , Ms. Hana Tehelku, and the team at @UnitedCap on this landmark achievement.

Published

6 hours ago

June 9, 2026

OCHEFA

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United Capital Group has again secured regulatory approvals to commence operations in Ethiopia.

Its Chairman, Tony Elumelu, broke the news on Tuesday, via his official X.

” This development is particularly noteworthy because Ethiopia only recently opened its financial sector to foreign participation, making United Capital’s entry a historic step for both the company and the ongoing integration of African capital markets,” said Elumelu.

Last month, United Capital commenced operations in Rwanda, marking its formal entry into East Africa and reinforcing its ambition to build a leading continental financial services institution.

The Group’s newly established entities include United Capital Trustees Rwanda Limited, licensed to provide trusteeship services, and United Capital Financial Services Rwanda Limited, licensed to offer investment management services, including portfolio management, investment advisory, capital mobilisation, capital market advisory, and fund management solutions.

With this development, United Capital now operates in 11 countries, including Nigeria, with a strong presence in key African markets, a recent expansion into the eight countries within the West African Economic and Monetary Union (WAEMU) region, alongside a growing footprint in East Africa.

According to Elumelu, African institutions are increasingly leading, competing, and succeeding across the continent.

For decades, Africa witnessed foreign capital flowing in while profits largely flowed out.

That narrative is beginning to change.

This is Africapitalism in action — a vision that recognizes the importance of both indigenous and international capital working together to finance Africa’s development and unlock shared prosperity.

Business

Lagos developing world – class new business district —Sanwo-Olu

Sanwo-Olu said Lagos was deliberately building a globally competitive economy driven by innovation, infrastructure and private-sector participation.

Published

9 hours ago

June 9, 2026

OCHEFA

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• Invest Lagos Summit 3.0: Secretary to the Lagos State Government, ‘Bimbola Salu-Hundeyin (right); Member, House of Representatives, Kafilat Ogbara; Commissioner for Innovation, Science and Technology, Tunbosun Alake; Chairman, Commonwealth Enterprise & Investment Council (CWEIC), Lord Jonathan Marland; Vice President Kashim Shettima; Governor of Lagos State, Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat; Commissioner for Commerce, Cooperatives, Trade & Investment, Mrs Folashade Bada Ambrose-Medebem; Deputy Chief of Staff to the Governor, Sam Egube, Dr Toyosi Akerele-Ogunsiji and members of the State Executives Council at the opening of Invest Lagos 3.0, themed: “Lagos – The Business Gateway to Africa”, in Lagos, yesterday.

Lagos State Governor, Babajide Sanwo-Olu, has disclosed that as part of efforts to deepen access to global capital, his administration is developing the Lagos International Financial Centre (LIFC), envisioned as a world-class financial district that would strengthen the state’s position as a gateway for investment into Africa.

Speaking yesterday at the third edition of the Invest Lagos Summit, attended by Vice President Kashim Shettima, other governors, foreign investors, development finance institutions and business leaders, Sanwo-Olu said Lagos was deliberately building a globally competitive economy driven by innovation, infrastructure and private-sector participation.

Sanwo-Olu said that the state had recorded significant economic progress in recent years through targeted reforms across transportation, digital infrastructure and industrial development.

Highlighting key infrastructure achievements, Sanwo-Olu cited investments in road networks, waterways and rail transportation, describing them as critical enablers of economic growth and investor confidence.

The governor noted that Lagos was increasingly serving as a gateway to African markets and global capital, positioning itself at the centre of continental trade under the African Continental Free Trade Area (AfCFTA).

According to him, Lagos remains one of the continent’s most strategic economic hubs, with a population exceeding 25 million and a gross domestic product steadily approaching the $300 billion mark.