The Oba of Benin, Ewuare II has emphasized the necessity for government intervention to promote local production and stimulate export activities during a meeting with officials from the Manufacturers Association of Nigeria at his palace in Benin.
He underscored the significance of fostering an environment conducive to exports to bolster the nation’s economy. Additionally, the monarch urged manufacturers to prioritize the production of high-quality goods capable of competing effectively with foreign alternatives, thereby fostering a culture of embracing domestically made products.
In alignment with the Oba’s sentiments, the President of the Manufacturers Association of Nigeria, Otunba Francis Meshioye, highlighted the organization’s commitment to advocating for policies that facilitate the growth of the manufacturing sector. Meshioye emphasized the need for infrastructural development within industrial estates in Edo State and solicited the Oba’s support in urging the state government to prioritize infrastructure provision to enhance industrial growth.
Furthermore, Meshioye sought the Oba’s endorsement in promoting the patronage of locally manufactured goods, recognizing the pivotal role such support plays in sustaining the growth of domestic manufacturing and fortifying the economy.
He also addressed challenges faced by manufacturers, citing macroeconomic inadequacies and recent government reforms that have strained the sector, including the removal of fuel subsidies, exchange rate fluctuations, and customs duty adjustments, all of which have imposed significant burdens on industry members.
IMAGE: DailyPost
