…. Professor Mercy Ada Anyiwe Profers Solutions, Tells Manufacturers Association of Nigeria (MAN) How their Creativity and Proper focus on productivity can Change Nigeria from a Consuming nation into a Producing Nation.
……. UNIBEN’s Professor of Economics: (Development Economics & Economics Statistics) Suggests Ways Nigeria’s Manufacturing Sector Can End The Nation’s unfortunate march towards Economic Doom.
By Victor Bieni, Asaba
As part of efforts to liberate Nigeria from a struggling economy, unstable micro-economic policies and Economic Doom, Professor Mercy Ada Anyiwe, a World distinguished Economist, UNIBEN’S Professor of Economics through her tested empirical evidence on lessons and challenges of the Manufacturing Sector has given insights and profered possible solutions to Nigeria’s Economic quagmire;
as she was hosted by Manufacturers Association of Nigeria (MAN), Edo/Delta Branch.
The media learnt this today from Prof Mercy Ada Anyiwe, Professor of Economics: (Development Economics & Economics Statistics), Department of Economics, University of Benin, Edo State in a public lecture she delivered during the 36th Annual General Meeting (AGM) of the Manufacturers Association of Nigeria (MAN, Edo/Delta) held recently at Uyi Grand Event Centre, GRA, Benin-City, Edo State, Nigeria. The lecture titled “Nigeria’s Struggling Economy and Unstable Macroeconomic Policies: Lessons and Challenges for the Manufacturing Sector” was made available to some group of Journalists at Benin, Edo State and at Asaba Delta State capital.
The seasoned Economics Professor stated that Nigeria is a country in African sub-region that cannot be ignored due to many factors, her population, historical antecedents, natural resources and other endowments as she dwelt on the urgent need for the Federal Government to endeavour to convert Nigeria’s resources into wealth and massively empower members of the Manufacturers Association of Nigeria (MAN) for a paradigm shift from the stage of being a consuming Nation to an advanced stage of becoming a producing Nation.
The University DON stated that the country’s manufacturing Sector has suffered huge setbacks for the past 62 years, while highlighting the ten basic challenges faced by Nigeria’s Manufacturing Sector such as unstable Government policies, poor utilities – electricity and water supplies; poverty of infrastructures and technology; inadequacy of raw materials, lack of skilled labour and low labour productivity, insufficient credit supply, and others. She claims that Nigeria’s struggling economy is suffering from what she refers to as “African Disease: Living in Poverty amidst Abundant Wealth”.
Stressing on the need for the government to improve on the business and investment environments of the private sector in order to reduce the too many challenges faced by the Manufacturing Sector she revealed through empirical analysis that MAN if empowered can boost Nigeria’s economic growth and development. Also that the three basic pillars of Socio-economic development such as life expectancy at birth, quality Education and per capita income of the country can as well increase through diversification and increased production of the sub-sector, full concentration on exports from major sectors; expansion of industrial capacity and patronage of locally produced products by Nigerians.
The Economic Professor while giving insights and profering more solutions to the Economic challenges of the country called on the Federal Government to prioritize on power and availability of funds for the real (Manufacturing) Sector, boost skill development, enhance job creation, conserve foreign reserve, implement stable macro-economic cum industrial policies, refrain from unstable micro-economic policies, promote indigenous participation in technology development, set up Industrial Infrastructures to grow the Manufacturing Industries in the country.
She added that the above encouragement to the Manufacturing Sector in Nigeria will no doubt, increase the Human Development index and if tactically executed in an environment of Good Governance, Nigeria will surely be better for it. She noted that the Good Governance Index of Nigeria (a metrics developed by SolAbility, 2021) is still very low and hence prompts the exploration of Singaporean MPH-Model of Economic Development (which bothers on Meritocracy, Pragmatism and Honesty) as ways towards overcoming the prevailing economic challenges of the nation and avert the eminent Economic doom.
The Economic Professor also urged Manufacturers Association of Nigeria to collaborate with critical stakeholders; University of Benin, other Universities and Research Institutions to find lasting solutions to energy-crises, development of appropriate raw materials, home-made technologies, modern packaging and others. Also, that MAN should engage Export Promotion Council and foreign markets, consultancies, network marketing firms for better distribution of products.
Prof Anyiwe while commending the leadership of Manufacturers Association of Nigeria (MAN), Edo/Delta branch under the leadership of Engr. Dr. Okwara Arua Udensi and it’s National President, Engr. Mansur Ahmed harped on the importance of holding Annual General meetings for accountability and setting of new agenda for the betterment of organizations.
She also urged the Federal Government to embark on serious mass re-orientation of Nigerians to increase the patronage of Nigerian-made goods; to increase participation in entrepreneurship and development of technologies; and to reduce corruption and bad leadership.
Speaking further, she enjoined the Federal, State, Local Governments in Nigeria; the nation’s citizens, Manufacturers and Manufacturers Association of Nigeria to practice Anyiwe’s Economic Slogans such as: **”Be productive or loose your freedom or self-esteem.
**Believe in yourself and your community and patronize your local products.
**Depend on aids and handouts and lose your freedom.
**Those who globalize through buying of products alone in the foreign markets without having products to sell are but global-spectators: Don’t be a spectator, be the doer.
**Save, to invest in productive ventures. **Produce your domestic Technology or else you will be slave to foreigners forever.
**Let Meritocracy, Pragmatism and Honesty be the watch words.
**Meditate on the divine light and sound of God and be lifted spiritually and economically”.
The proper combinations and applications of the above suggestions and recommendations according to Anyiwe will surely liberate the manufacturing Sector from challenges and underperformance and place Nigeria in the comity of advanced nations.