he Nigeria Employers Consultative Association (NECA) has shed light on the difficulties facing Nigeria’s manufacturing sector, which have led to the closure of some companies and the exit of multinational corporations. Newly elected NECA President, Ifeanyi Okoye, discussed the critical issues plaguing manufacturers, including inadequate infrastructure, high costs of self-provided utilities like generators, security concerns, and unstable foreign exchange and government policies.
Okoye emphasized that the lack of motorable roads and essential infrastructure contributes significantly to the difficulties manufacturers face, driving many to exit Nigeria. He stressed the need for the government to address these infrastructure issues to create a more business-friendly environment.
Regarding the Presidential intervention fund, Okoye noted that key manufacturers have yet to benefit from it. He suggested that beneficiaries should be recognized manufacturers or members of the Manufacturers Association of Nigeria (MAN) and NECA, to ensure transparency and effectiveness in the distribution of the fund