By VICTOR AHIUMA-YOUNG
CHEMICAL and Non Metallic Products Employers’ Federation, CANMPEF, has lamented that more manufacturing companies are closing down in Nigeria due to unfavourable operating environment.

At its 33rd Annual General Meeting, AGM, in Lagos, CANMPEF lamented that the closures were specifically engineered by collapsing pubic infrastructure, inconsistent government policies and insecurity of life and property in some parts of the country.

Addressing members, Acting President of the Federation, Mrs Peju Adebanjo, called on the Federal Government to make concerted efforts to resolve the Boko Haram issue and to ensure that the matter is not allowed to escalate further, saying “all efforts should be focused on finding solutions to the issue of insecurity, poverty reduction, infrastructure, energy and employment generation.”

According to her, “In view of the difficult operating environment, our membership declined and we continued to record a fall in membership during the year under review. We are now 90 from the 145 names at the Federation’s inception. This is a reflection of the prevailing harsh economic climate.

Some manufacturing industries had closed down as a result of worsening high cost of production occasioned by collapsing pubic infrastructure, inconsistent government policies and insecurity of life and property in some parts of the country. This development has also impacted negatively on our finances but more importantly indicated the inability of our sector to generate much needed employment at this critical time.”

She added that “the Federal Government should make concerted efforts to resolve the Boko Haram issue and it should not be allowed to escalate further. All efforts should be focused on finding solutions to the issue of insecurity, poverty reduction, infrastructure, energy and employment generation.”

Corroborating, the Executive Secretary of CANMPEF, E.F Ali, said “no doubt, the success of any economy is dependent on the success of its industrial activities among others. But unfortunately, there has not been much significant improvement in the country’s economy and the problem is hinged on the negative business environment in which industries operate.

Nigeria’s growth has been hampered by a range of problems including inadequate electricity provision, poor infrastructure, an unwieldy tax regime, corruption, smuggling and lack of continuity in government policies.”