Ogbonnaya Onu, minister of the Federal Ministry of Science and Technology, wants the manufacturing sector’s contribution to Nigeria’s gross domestic product (GDP) to move from eight to nine percent currently to 18 to 30 percent to drive growth and jobs.
Onu, who stated this at the closing ceremony of the 4th edition of the Nigeria Manufacturing & Equipment Expo, advised that the capacity of the manufacturing sector should be well utilised to give the country economic prosperity, considering the abundance of raw materials and large market the country has.
“Imagine the impact we will have in the economy if manufacturing can move from 9 percent to 15 or 18 or 30 percent,” he said. “We will be in a position to provide jobs, we will grow our economy and increase the gross domestic product of the country considerably.”
Manufacturing contribution to real GDP in the fourth quarter of 2018 was 8.86 percent, the National Bureau of Statistics said. Capacity utilisation in the manufacturing sector stood at 54.6 percent in the first half of 2018, according to the Manufacturers Association of Nigeria (MAN).
“We have a national strategy aimed at improving competitiveness in raw materials and products development in the economy,” Onu said.
“The raw materials we have in Nigeria must be put in the form that they can compete with the very best anywhere in the world,” he added.
“We can double our GDP in a few years if we continue to improve on our competitiveness, improve on the productivity that we have in our industries,” he said.
He added that there is a need for more research which must be industry-driven to meet the national needs of the country. Onu further said the problems of the manufacturing sector must be addressed and solved, adding that collaborations between the manufacturing sector, research institutions and government agencies would foster development at a faster pace.
Mansur Ahmed, president of MAN, said manufacturers can work together to transform the basic raw materials into finished goods for the market to grow the economy.
Hussaini Ibrahim, director general, Raw Materials Research and Development Council (RMRDC), said the objective of the expo was achieved as many of the participants were able to record good experiences and widen their people- network.
Hussaini, represented by Zainab Hammangar, director, investment and consultancy services department, added that it was a big plus for the Micro Small and Medium Scale Enterprises (MSMEs) as they were able to meet other stakeholders in the manufacturing space, build human network and meet prospective partners.
Prudence Onyenemezu, a sales executive at Zenith Shipping Company Limited, stated that the expo was a good opportunity to meet other importers and shipping companies as well as increase opportunities to publicise the business and get new clients as well as partners.
“It has also put our attention to the default which we will correct for future purpose.” She advised the event patrons to put in more publicity in order to attract more participants in the future.
Gbemi Faminu & Maurice Ogu
