Manufacturers Association Calls for Enhanced Non-Oil Export Incentives Amid Economic Challenges
Lagos – In a significant appeal during the 7th Annual General Meeting of the Manufacturers Association of Nigeria Export Promotion Group (MANEG), Chairman Odiri Erewa-Meggison highlighted the urgent need for strengthened non-oil export incentives to bolster Nigeria’s manufacturing sector, which is currently facing multiple economic hurdles.
Erewa-Meggison underscored the pivotal role that non-oil exports play in achieving a favorable trade balance, laying emphasis on the necessity for government support in the form of grants and low-interest loans. These measures, she argued, are essential for manufacturers to manage rising production costs and remain competitive in the global marketplace.
Speaking on the event’s theme, “Targeting a Favorable Balance of Trade: The Role of Non-Oil Export Incentives for Manufacturers,” she proposed dedicated budgetary allocations for exporters to enhance their competitiveness in pricing on an international scale.
“The manufacturing sector in Nigeria has faced one of its most challenging periods, characterized by policy reform pressures, security issues, and macroeconomic difficulties. Yet, our members have exhibited remarkable dedication and professionalism,” Erewa-Meggison stated.
She reiterated her commitment to advocating for non-oil export incentives and encouraged her fellow members to remain steadfast in their entrepreneurial endeavors, despite tough economic conditions. Erewa-Meggison expressed hope that the proposed incentives would not only strengthen Nigeria’s position in global trade but also stimulate local employment opportunities.
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