The Manufacturers’ Association of Nigeria Export Promotion Group (MANEG) is urging the Nigerian government to take immediate action to improve the country's export potential. They held a meeting in Lagos where they discussed the challenges facing Nigerian manufacturers, such as high production costs, poor infrastructure, and logistics issues, which make it difficult for their products to compete internationally. The chairperson, Mrs. Ruth Owojaiye, highlighted that problems like high interest rates and unreliable power supply are driving up costs for manufacturers. She emphasized the need for the government to make progress in fixing these issues, such as improving roads and lowering interest rates. She also mentioned the importance of providing financial support to exporters, particularly through the Export Expansion Grant, which helps businesses reinvest and grow. Mr. Segun Ajayi-Kadir, the Director-General of the Manufacturers’ Association, pointed out that it's not just about exporting more goods, but creating conditions that allow Nigerian products to compete effectively against cheaper imports from other countries. He called for better logistics infrastructure to facilitate trade within Africa. The Executive Director of the Nigerian Export Promotion Council, Mrs. Nonye Ayeni, shared positive news about Nigeria's export performance, noting that in 2025, the country achieved record non-oil exports worth $6.1 billion. She mentioned initiatives aimed at easing the logistics burden for exporters, such as domestic export warehouses and a trade facilitation system. Overall, the group is calling for collaboration among the government, manufacturers, and financial institutions to overcome the challenges that hinder Nigeria's export growth.
Don't miss out on breaking stories and in-depth articles.
