Multinationals’ exit, opportunity for domestic industries — MAN DG

The Director General of the Manufacturers Association of Nigeria , Segun Ajayi-Kadir, has contended that the recent exit of some multinational companies from Nigeria offers a golden opportunity for homegrown manufacturers to thrive in the country with proper government empowerment.

He stated: “I think there is a strong lesson to be learned here. The big ones leaving are the multinationals, which should send a clear signal to the government. Reiterating concerns about the future of the manufacturing sector in Nigeria, the MAN DG called for clear and decisive action from the government to prevent further exits and ensure the sector’s growth.

“Manufacturing in any economy is a strategic choice and the government must decide if it wants the country to be industrialised. If so, it must take all necessary steps to remove the binding constraints that hinder the sector’s performance. Nigeria has not done so, so we see closures,” he added.

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