The Manufacturers Association of Nigeria (MAN) has demanded that government organizations employ local products exclusively.
At the 40th annual general meeting (AGM) of the association’s Ogun state branch in Abeokuta on Thursday, Francis Meshioye, president of MAN, spoke and suggested sanctions for government contractors that disregard local content.
According to Meshioye, the “Nigeria First” policy must be rigorously implemented at all governmental levels and branches by requiring the purchase of locally produced goods and services.
All uniformed agencies should purchase their cars, uniforms, shoes, and other supplies from Nigerian businesses, according to the MAN executive.
“Local content must be given priority by government contractors, and non-compliance must have consequences,” he stated.
Through the Industrial Revolution Working Group, we are collaborating closely with the state minister of industry to implement these reforms.
“We need to give the manufacturing sector back its trust.
“We further request that the Ogun State government domesticate the policy and guarantee that all state ministries, departments, and agencies give preference to made-in-Nigeria products when it comes to contracting and procurement.”
Meshioye also bemoaned the fact that businesses are “bleeding” from double interest payments and called for the swift clearing of the $2.4 billion in foreign exchange (FX) forwards owing to manufacturers.
“Loan repayment is becoming burdensome due to high interest rates.”
Ogun State’s MAN chairman, George Onafowokan, asked the federal government to enact measures that will help the nation’s indigenous businesses flourish.
Concerned about the manufacturing sector’s diminishing share of Nigeria’s GDP, Onafowokan stated that it had dropped from 16.04 percent in the fourth quarter of 2023 to 12.68 percent by the middle of 2024.
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He blamed the drop on high lending rates, restrictive regulations, inflation, and a lack of foreign exchange.
According to the chairman, data indicated that Nigeria’s total GDP increased by 3.4 percent in 2024, primarily due to the country’s industrial and service industries.
According to Onafowokan, members continue to function and make significant contributions to the economy in spite of the challenging circumstances.
The chairman stated, “Members have remained steadfast, keeping factories running, paying workers, and contributing to the revenue base of Ogun State and Nigeria’s GDP.”
“Ogun manufacturers continue to operate and invest in the economy in spite of these challenges.”
He claimed that among the difficulties facing Ogun’s manufacturers are unlawful taxes levied by local governments, capricious fines from regulatory organizations, and intimidation by security personnel and government agencies.
Citing the 27.5 percent monetary policy rate (MPR) as of May 2025, the state MAN chairman also bemoaned the high cost of lending.
According to him, these rates reduce profit margins and make loan repayment difficult.
In order to obtain reasonably priced finances for operations and expansion, Onafowokan advised manufacturers to investigate alternate financial sources such the Bank of Industry (BoI), LECON Finance Company, and Agusto & Co.
The governor of Ogun, Dapo Abiodun, praised manufacturers in his remarks for their tenacity and contributions to economic expansion.
The governor reiterated the state government’s commitment to improving the business climate by lowering taxes and funding infrastructure development, as represented by Adebola Sofela, commissioner for industry, trade, and investment.
