The Director General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, expressed regret over the departure of multinational consumer goods manufacturer Procter & Gamble (P&G) from Nigeria, suggesting that additional manufacturers might follow suit.
“The P&G exit is sad, but not unexpected,” Ajayi-Kadir said on Channels Television’s Sunrise Daily on Monday. “We operate in a challenging environment, and unless the government takes clear, redefined measures, more exits will follow.”
“Manufacturing in any economy is a strategic choice, the government has to make up its mind whether it wants its country to be an industrialised one. Once that decision is taken, you have to do all that is needed to remove the binding constraints that limits the performance of that sector, Nigeria has not done so and that is why you can see there are closures.
“I think it is news because it is Procter and Gamble, it is news because it is GlaxoSmithKline, it is news because they have been in the country for a very long time, but they are several others that have died quietly and for reasons that are clearly avoidable.”
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Ajayi-Kadir further highlighted the silent departures of several other compaies, highlighting the avoidable reasons behind their exits. This serves as a stark warning to the government, urging immediate action to improve the manufacturing landscape and prevent further losses.
The potential exodus of manufacturers raises serious concerns about the future of the sector in Nigeria. The government must act swiftly and decisively to address the challenges highlighted by MAN, fostering a supportive environment that allows manufacturers to thrive and contribute to the country’s economic growth.