Okechukwu Enelamah, minister of industry, trade and development, says the federal government is focused on ensuring a conducive business environment for local manufacturers.
Speaking during a tour of May & Baker’s Pharmacentre in Ota, Ogun state, Enelamah, who led a team comprising officials of his ministry, said a tactical war-chest of strategists has been put together under the industrial council to actualise the executive order on ease of doing business.
The minister said the executive order will address all issues faced by manufacturers especially power.
“There is a determination from government to solve all the problems faced by manufacturers which is evident in the formation of the industrial council and the executive order made to ease doing business but the private sector must engage government to make it happen,” Enelamah said.
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“The manufacturing sector must partner government to solve the problems they are faced with and not leave government to do it alone so that the diversification agenda can be quickly met.
“The purpose of this visit is to know the problems and find out how to join in addressing those problems for the benefit of the economy.”
Nnamdi Okafor, MD/CEO May&Baker, who received Enelamah, commended the government.
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He said manufacturers were afraid that the law would only widen the borders for the local market to be inundated with foreign brands which enjoy a tariff-free environment.
Okafor said local manufacturers would have been disadvantaged and suffer precarious safety.
“May & Baker are determined to continue to provide quality products to support to public health,” Okafor said.
“However, the cost of doing business has gone up significantly. For instance, the cost of power alone pegs back the company to the tune of N500m annually. Again, assessing loans to sustain operations is a huge worry.”
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