MAN’s 15% GDP target for sector depends on next govt’s policy focus—Expert
The new year target of driving Nigeria’s Gross Domestic Product (GDP) above the current 8.84 per cent to 15 per cent by the Manufacturers Association of Nigeria (MAN) has been seen by industry experts as a very tall order depending on a number of factors.
In his recent forecast for the manufacturing sector, President of MAN, Mr. Mansur Ahmed, said the Association would promote a more inclusive economy among all categories of companies in its membership through the establishment of structured and mutually beneficial linkages between the large corporations and small and medium industries.
To him, the deal will be to expand the scope of strategic partnership with relevant organisations within Nigeria, West Africa and the African continent.
In his address at a media luncheon in Lagos, he averred that “We want to substantially improve the manufacturing sector’s contribution to GDP to 15 per cent within the next two to three years.”
However, a Development Economist, Dr. Akin Bello said whereas the dreams of MAN is very intelligent as it appears, “There are critical ingredients that need to be in place to drive the GDP push to that target 15 per cent after all”.
In an interview, he told Business Hilights that “Beyond politics, the new year target of Nigerian manufacturers is heartwarming, but the question is are there the policy and infrastructural preconditions to meet the target?
“For MAN and not only Man, but other productive sectors to grow beyond the snail speed we have been experiencing since slim exit from recession, there must be new economy order that is driven by policy consistency, efficient power system, infrastructural rebirth and stable naira.
“If a situation whereby majority of MAN members are to still provide their own power source, endure multiple taxation and face forex hostilities as it is now, I doubt if the new target will be achievable.
While chiding MAN as a body for not seating with any of the presidential candidate and question him or her party’s revival agenda for the manufacturing sector, means that their target to me, remains wishful thinking.
To him, MAN has failed articulate what it needs to be strong ahead of the presidential election and that spells doom as provision of manufacturing enabling environment by any of the presidential candidates that wins will only depend on what the party has and not what MAN wants.