Manufacturers Association of Nigeria (MAN) on Friday called on government and other stakeholders to work for the   rapid industrialisation of the economy. The Chairman of   MAN, Dr Michael Daramola,  made the call  at the Annual General Meeting of  the South-West Zone of the association   held at Ikogosi Warm Spring Resort in Ekiti.

He said growing the manufacturing sector was fundamental to sustaining economic development.

“The manufacturing sector remains the soul of every economy because it creates jobs, improves living standards and helps to grow domestic wealth,   especially when they are export- driven. A strong manufacturing base is expected to also help to prevent or minimise huge import tendencies. No major nation has managed to transform itself from a poor nation to a rich nation by relying solely on import of raw materials without a vibrant industrial sector,” Daramola said.

Also speaking, the guest speaker, Prof. Sunday Otokiti, said that significant effort must be placed on manufacturing for the country to achieve its objectives.

Otokiti,  in his lecture entitled, “Re-Evaluating Manufacturing Potentials in South-West Nigeria said: Manufacturing has proved to be a driver and core instrument adopted by the developed countries. To grow our industries, we need to look inwards on ways of producing our needs without necessarily outsourcing for them.

“The highest priority should be given to technologies that expand the availability of raw materials,” Otokiti said. Gov. Kayode Fayemi of Ekiti, represented by the Commissioner for Trade, Investment and Innovation, Mr Debo Ajayi, said government was creating an investment friendly environment for businesses to thrive.

“The south-west regional integration project, when fully implemented, will improve the economy of the region and improve living standards through cooperation among the states. We need to work together to bring about the transformation we desire. To effectively do this, the organised private sector must be included in policy making processes and decision making,” he said.

Fayemi added that government’s intention in providing infrastructural development was aimed at realising the objectives of the transformation agenda.