Manufacturers Association of Nigeria expresses concerns over unexpected excise tax increases

The Manufacturers Association of Nigeria (MAN) has expressed concern over the government’s lack of commitment to policy implementation, which has hindered the performance of the nation’s manufacturing sector.

Director General of MAN, Segun Ajayi-Kadir, stated this at the 2024 Access Corporate Forum, in Lagos.

According to MAN, the sector is currently operating at less than 50 percent of its installed capacity, largely due to inconsistent policy execution.

As part of his statement, he also emphasized that successive governments in the country had declared their intention to grow domestic production, but failed to show adequate interest in the growth of the manufacturing sector.

Ajayi-Kadir emphasized that the growth of the sector has been stunted either by the lack of total commitment to put policy into action by the government or by the sector being crowded out in terms of priorities.