POLICY INCONSISTENCY HURTING INDUSTRIAL GROWTH, MANUFACTURERS WARN

The Manufacturers Association of Nigeria (MAN) has warned that frequent changes in government policies are severely undermining industrial growth and investor confidence in the country.
MAN President, Mr. Francis Meshioye, made the observation during the association’s quarterly meeting, citing unpredictable shifts in fiscal, monetary, and trade policies as major obstacles to long-term planning and expansion. “Policy inconsistency creates uncertainty and increases the cost of doing business. We need stability to drive industrialisation,” he said.
The manufacturers called on the Federal Government to adopt a more consultative approach and ensure continuity in economic policies, regardless of changes in administration. They also urged the strengthening of institutions to protect investments and promote a predictable business environment.
The warning comes amid ongoing challenges faced by the manufacturing sector, including high energy costs, forex volatility, and multiple taxation.
Stakeholders have echoed MAN’s concerns, emphasising the need for a coherent national industrial policy to unlock the sector’s potential for job creation and economic diversification.