Caulcrick
The government’s initiative to prioritize local products in public procurement is a welcome development, but the Manufacturers Association of Nigeria (MAN) must focus on enhancing product quality and packaging to truly compete with imports.
This was the opinion of erudite financial analyst Samuel Caulcrick, while responding to the new Federal Government policy
According to him, for too long, MAN has cited unreliable grid power as a major challenge, but producing quality products has more to do with attention to detail in production and packaging than the source of electricity.
He said, by shifting focus towards quality and packaging, local manufacturers can increase competitiveness and gain consumer trust.
This, he said, can be achieved by implementing robust quality control measures, investing in attractive and durable packaging, continuously innovating and improving products, and providing training and capacity-building programs for members.
“With the government’s initiative and a focus on quality, local products can gain traction in the market, driving economic growth and increasing demand for Nigerian-made goods.
” Ultimately, the success of local manufacturers will depend on their ability to produce high-quality products that meet the needs of consumers, rather than relying on excuses about infrastructure challenges,” he said
Caulcrick, further reasons that proactive engagement between the MAN and the Federal Government is crucial to ensuring that the concerns of manufacturers are heard and addressed.
He emphasizes the importance of market intelligence in staying ahead of the curve.
“By understanding market trends, consumer behavior, and regulatory developments, businesses can make informed decisions and adapt to changing circumstances,” Caulcrick said.
He notes that corporations should prioritize strategic planning to ensure they are well-positioned to navigate the new policy landscape.
” This includes assessing potential risks and opportunities, identifying areas for growth, and developing contingency plans,” he explains.
Caulcrick also highlights the need for capacity-building initiatives, such as training programs and infrastructure development, to help businesses build resilience and competitiveness.
” The Federal Government can support manufacturers by investing in these initiatives and providing regulatory clarity.
” Clear and concise regulations can help reduce uncertainty and promote business growth, ” he said. .
Caulcrick further stresses that by working together and prioritizing strategic planning, market intelligence, and capacity building, MAN and the Federal Government can navigate the new policy landscape and drive sustainable growth in Nigeria’s manufacturing sector.
Ultimately, he believes that with the right approach, Nigeria’s manufacturing sector can thrive despite the challenges posed by the new policy landscape.
“By leveraging market intelligence, building capacity, and promoting regulatory clarity, businesses can not only survive but also drive growth and development in the country,” he noted.
