The Manufacturers association of Nigeria is appealing to Federal and state governments to provide a tax relief and low interest loans to Manufacturers as part of measure to mitigate the impact of covid19 in the manufacturing sector of the Economy.
The Chairman of manufacturers association of Nigeria, Rivers and Bayelsa state branch senator Adawari Macpepple at the 36th annual general meeting of the association held in Port Harcourt said Covid19 has impacted negatively on manufacturing due to lack of access to raw materials as the countries supplying Raw materials are either shut down, not producing or are forced to close due to the ravaging effects of the pandemic.He said despite the FG claims on provision of electricity throughout the period of covid19, many of her members are unable to operate due to poor electricity supply and often times non availability of power Supply
He said manufacturers face a lot of issues from BAD ROADS to ACCESSIBLE ROADS to move their products, goods or services.he said the problem of banks asking manufacturers for COO to other stringent approaches adopted by lending commercial banks meted to the manufacturing sector when they come demanding for loan to boost production or remain afloatSenator Macpepple said if only things like roads, Rail lines are within the purvey of private sector, investors would have invested in it to make life and road experience pleasurable and pliable to the populace
A cross section of the Manufacturers present at the meeting also complained that lack of investors in manufacturing has also contributed to the raising cases of unemployment in Nigeria.
They appeal to the federal and state governments to invest in the sector as most manufacturers are closing down to join politics that is fast rewarding in Nigeria
Correspondent Anita Ogona reports that the president of MAN Sule Mansah who joined the meeting through virtual Online meeting app also lamented that manufactures in the zone do not have access to intervention funds of the bank of industry which forces manufacturers to borrow from commercial banks but end up not able to pay back the loans and folding up.