MAN calls for stronger collaboration with media for sustainability of manufacturing industry, assures AI will boost job creation

By allcitynews.ng

The President of Manufacturers Association of Nigeria (MAN) Otunba Francis Meshioye has called for more media collaboration for sustainability of the manufacturing industry amidst harsh business environment.

Making this call during the just concluded 2025 and 9th edition of MAN media award ceremony where media houses were honoured for the roles they played last years, Meshioye reiterated that the industry needs the assistance of media at this crucial stage to put government at its toes in view of how many companies have been frustrated out of business based on multiple problems. And also to assist to checkmate government over unfriendly, harmful and counterproductive policies.

According to him, “we need the media more than ever before to convey the message to government on biting scarce foreign exchange. Manufacturing sector needs ease to do business by making foreign exchange available for manufacturers than other sectors.

Further he said, as the sector “The manufacturing sector’s contribution to GDP fell from 16.04% in late 2023 to 12.68% by mid-2024, a stark reflection of the sector’s struggles, media should join us to win the battle against unsold products of ₦1.4 trillion.

Meshioye called on the government to prioritize measures such as tax reforms, infrastructure upgrades, energy security, and affordable credit access. “A win for the manufacturing sector is a win for the economy and the Nigerian people,” he emphasized.

As MAN is out to create a climate of opinion in the country in which manufacturers can operate efficiently and profitably for the benefits of the economy and country at large,
Meshioye lamented against the harsh economic downturn that denied the masses the purchasing power whereby manufacturers recorded unsold products in past months, saying “the inventory of unsold finished products in the manufacturing industry surged by 357.57 per cent year by year reaching N1.24 trillion in first quarter of 2024. This alarming increase is attributed to the declining consumer purchasing power due to escalating inflation, subsidy removal and the devaluation of the Naira. This high level of unsold inventories reflects the challenges faced by consumers and the need for interventions to stimulate demand and improve the sector’s performance.”

Reacting to question on AI, he explained that AI will be an added advantage to manufacturing industry.

“The efficient adoption Artificial Intelligence (AI) will be a game changer for the manufacturing sector in 2025 and the nearest future. This is expected to help in engendering enhanced production and productivity, improved capacity utilization, innovative product development, improved inventory system, efficient logistics operations. AI will lead for more job creation in the country,” he said.

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