COLEMAN URGES POLICY CHANGES TO UNLOCK MANUFACTURING CAPACITY

Coleman Technical Industries Limited has called for policy reforms to help Nigerian manufacturers operate closer to full capacity and compete more effectively in local and international markets.

The company’s Managing Director and Chief Executive Officer, George Onafowokan, made the call during a media tour of Coleman’s factories in Sagamu, Ogun State.

He said manufacturers were losing opportunities for employment, investment and exports because of policies and structural challenges limiting production.

Onafowokan said Coleman’s high-voltage cable plant was operating at less than 10 per cent capacity, while utilisation across its expanded facilities stood at about 20 per cent.

He added that the company had invested more than $60m in its fibre-optics operations, with support from the Bank of Industry, FCMB and InfraCredit.

The executive called for changes to the tariff structure and proposed a bonded system that would allow manufacturers to import raw materials for export products without paying full duties, subject to proof of export.

He also urged the government to support large-scale indigenous businesses and create policies that encourage export-oriented manufacturing.

Onafowokan said better use of existing industrial capacity would create jobs, increase tax revenue and strengthen Nigeria’s export earnings.