The Manufacturers Association of Nigeria (MAN) has issued a warning to the Federal Government against actions that could harm the reputation and viability of local industries.
This caution comes amid concerns over the recent controversy involving the Dangote Refinery.
Call for Support
Segun Ajayi-Kadir, Director General of MAN, emphasized the importance of government agencies promoting a conducive business environment for local investments.
He underscored that regulatory bodies should support and not undermine significant homegrown investments such as the Dangote Refinery.
Regulatory Allegations
Ajayi-Kadir responded to allegations made by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) against the Dangote Refinery, which included claims of poor quality and monopolistic practices. He described these allegations as unsubstantiated and potentially damaging to the reputation of local investors.
Importance of Local Investment
Highlighting the critical role that local investors, especially Dangote Industries Limited (DIL), play in the Nigerian economy, Ajayi-Kadir pointed out their contributions to economic growth, job creation, and development. He urged the government to protect these investors and provide them with the necessary support to ensure their success.
Support for Dangote
Ajayi-Kadir called for increased backing for business magnates like Alhaji Aliko Dangote, whose investments span various sectors and regions across Africa. He argued that such support would enable further investment and positive impacts on the nation’s well-being.
The call by MAN underscores the need for a balanced approach by government and regulatory agencies to foster a thriving business environment that supports local industries, thereby ensuring sustained economic growth and development in Nigeria.