MANEG Urges Government to Enhance Nigeria's Export Competitiveness

The Manufacturers’ Association of Nigeria Export Promotion Group (MANEG) convened its 9th Annual General Meeting (AGM) in Lagos, where it called on the federal government to address high production costs, logistics bottlenecks, and other structural constraints that hinder the competitiveness of Nigerian manufactured products in international markets. Chairman Mrs. Ruth Owojaiye emphasized that the high cost of doing business, including high interest rates, unreliable power supply, and poor road infrastructure, significantly affects export competitiveness.

She welcomed the recent reduction of the Monetary Policy Rate (MPR) to 23 percent but stressed the need for affordable credit to help manufacturers expand and meet international standards. Owojaiye also reiterated the importance of settling outstanding claims under the Export Expansion Grant (EEG) to support exporters.

Mr. Segun Ajayi-Kadir, Director-General of the Manufacturers’ Association of Nigeria (MAN), highlighted the need for conditions that allow Nigerian manufacturers to compete effectively against foreign products.