The Director General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has regretted the exit of multinational consumer goods manufacturer, Procter & Gamble from Nigeria, saying that more manufacturers may follow suit.
He said until the Federal Government takes clear redefined measures to address challenges facing manufacturers in the country, more exits will happen in the manufacturing sector.
“Obviously, we received it (P&G exit) with sadness but it is not totally unexpected and more may happen because there is no doubt that we operate in an environment that is challenged,” Ajayi-Kadir said on Channels Television’s Sunrise Daily on Monday.
“Manufacturing in any economy is a strategic choice, the government has to make up its mind whether it wants its country to be an industrialised one. Once that decision is taken, you have to do all that is needed to remove the binding constraints that limits the performance of that sector, Nigeria has not done so and that is why you can see there are closures.
“I think it is news because it is Procter and Gamble, it is news because it is GlaxoSmithKline, it is news because they have been in the country for a very long time, but they are several others that have died quietly and for reasons that are clearly avoidable.”