MAN Calls for Lower Energy Costs to Boost Manufacturing

The Manufacturers Association of Nigeria (MAN) called on both federal and state governments to reduce energy costs, improve access to affordable capital, and rehabilitate critical infrastructure to enhance manufacturing competitiveness. This appeal was made by MAN President Otunba Francis Meshioye during the association’s 29th Joint Annual General Meeting of its Kaduna branches held in Kaduna.

Meshioye stated that the high cost of energy accounts for approximately 40 percent of manufacturing operating costs, making reliable power access essential for business survival. He identified high interest rates, challenging access to business-friendly capital, and inadequate road infrastructure as significant obstacles for manufacturers.

He emphasized that poor road conditions increase transportation costs and affect access to manufacturing facilities, ultimately raising production costs. Meshioye urged the federal government to prioritize highway rehabilitation and called on state governments to improve roads connecting industrial parks and manufacturing zones.

He also advocated for greater government patronage of locally manufactured goods to stimulate local production and reduce reliance on foreign exchange.