Akpabio acknowledged that the country’s economic circumstances were to blame for the manufacturers’ predicament and commended them for their perseverance.
The President of the Senate, Godswill Akpabio has pledged the support of the National Assembly for Nigerian manufacturers to make the manufacturing industry flourish.
While visiting him in his office on a courtesy call on Wednesday, Akpabio made the promise to the Executive of the Manufacturers Association of Nigeria (MAN).
He gave his guests an explanation of the National Assembly’s cooperative efforts with the government’s executive arm to improve matters, especially in the security and economic areas.
Akpabio said: “We welcome any formal communications that you want to give to us to assist us to make your work easier, to legislate on issues that affect you, in order to ensure that you improve on what you are doing.
“You don’t need to even mention the fact that the current power situation has adversely affected the manufacturers in the country. You don’t need to mention the fact that the inflation rate has affected you seriously.
“You don’t need to mention the fact that the fluctuating foreign exchange rate has affected you seriously. Then the issue of pricing comes in. When you have to manufacture at a very high cost, it means that the price to the consumers also has to increase. And then of course, with the low earning capacity of Nigerians, you may end up having products that are overpriced. That can also affect your expansion.
“So let me commend the Manufacturers Association of Nigeria and by implication the Council members that in spite of the difficult times, you have managed to sustain this association.
“There is no need to overstate the fact that whatever this Senate or National Assembly as a whole can do to assist you, we will do so.
“We look forward to working closely with you, removing the bottlenecks, and supporting you in order to make the industry flourish.
“You coming here, seeking continuous partnership with the Senate, take it for granted that we have given you the partnership. I will work with my colleagues to ensure that we tinker with the laws. We will improve on the Acts.
“It is a very trying time but you have to bear with us. The situation we met on the ground was not very palatable. But it is not for us to shout. My President, President Bola Ahmed Tinubu is very determined to turn the situation around.
“On behalf of the Senate and the National Assembly as a whole, we assure you of our total support. You need to continue to do what you are doing to create employment opportunities for our people and also make products available for Nigerians at affordable cost and that involves also the issue of improvement in power, availability, and right pricing for gas.”
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The delegation was led by the President of MAN, Otunba Francis Meshioye, who had earlier stated that the purpose of the visit was to discuss the manufacturing sector’s current situation and work together to identify areas where legislative support was essential for manufacturers to effectively carry out their long-standing roles in jobs and wealth creation.
On behalf of MAN, he pledged their “unwavering support for the Senate in its efforts at fostering the growth and development of this vital sector.”
