The Manufacturers Association of Nigeria says with deliberate policy of the government through incentives, the real sector will become more viable than trading.
The Chairman of MAN, Apapa Branch, Engr Frank Onyebu said this while fielding questions from the Commerce and Industry Correspondents Association of Nigeria.
He explained that entrepreneurs would only invest in an economy where they where they were sure of getting maximum returns on investment in the short-term.
Onyebu said, “The real sector of the economy can be revived by a deliberate policy of the government through incentives to make the sector more viable than trading.
“Entrepreneurs would usually invest in businesses where they can get the maximum returns within the shortest possible time.
“Therefore if enough incentives are provided, investors will move in in droves to exploit the opportunities provided. The government should also make business environment friendly enough to attract even foreign investors into the sector.”
The MAN Chairman noted that agriculture was another sector that needed reviving, lamenting that it was a shame that Nigerians had not exploited even 10 per cent of the opportunities in the agricultural sector.
He said, “It’s upsetting when you travel along our highways and find stretches upon stretches of fallow lands which could easily be turned into farmlands.
“It’s even more upsetting when you realise that the individuals who should be ploughing these lands are wasting in our cities looking for non-existent white-collar jobs.
“The government has to provide incentives to our youths to get involved in farming. The government can do this by providing basic amenities in the villages, providing subsidized farming implements, including machineries, fertilizer, etc.
“Industries will ultimately spring up in these villages to take advantage of available outputs from these farms.”
On Foreign Direct Investment, the MAN boss stated that the government should work on drastically improving the Ease of Doing Business, saying registration process should be simplified, efficiency should be instituted as a habit, and information should be easily available.
He maintained that there should also be consistency in government policies, harping that corruption should be completed eliminated.
Commenting on security, he advised that conscious measures be put in place to improve the security situation in the country, insisting that most investors would think twice about investing in a country with seemingly insurmountable security challenges.