Participants at the seminar series of the Nigerian Institute of Social and Economic Research (NISER), held in Ibadan on Tuesday, bemoaned the hard times faced by Nigerian industries while identifying the factors that can enhance the competitiveness of the nation’s industrial sector in international markets.
The participants drawn from the manufacturing sector, academia, researchers, security sector, among other sectors, identified the learning enablers that could engender industrial development and competitiveness.
They noted that government is expected to provide enabling laws, conducive environment for the sector to produce goods with competitive quality and quantity that can stand its ground in international market.
In their various inputs, several speakers pointed out that the absence or ineffectiveness of learning enablers like export financing, international political economy, standards, regulations and inspection regimes for entry by firms hinder industrial development.
Leading the charge, Managing Director/Chief Executive Officer, Spectra Industries, Lagos, Mr Duro Kuteyi, noted that ease of doing business must be improved upon while there must be concerted efforts to promote Small and Medium Scale Enterprises (SMEs) else genuine local and foreign businesses will continue to be kept at bay.
Kuteyi harped on the imperativeness of infrastructure, noting that costs of production continued to rise due to high energy costs, the inability of government to provide cargo flights, trains, good roads that can facilitate smooth movement of raw materials and finished products.
He also identified importance of quality education, provision of well-furnished laboratories for science, technology and engineering, equipping graduates of polytechnics, universities to be ready-made for industrial engagement.
Also critical, according to Kuteyi, is affordable access to credit for SMEs to purchase huge machinery to produce standard goods that are competitive in the international market.
Noting incidences of killing, kidnapping of farmers, he also noted that security on farms where the agricultural produce and raw materials emerge is crucial for agro-processing and industrial development, in the long run.
To improve local production, he called for total ban on export of grains and foodstuff until the situation improved.
This is as he demanded that Export Processing Zones (EPZ) should not be for foreign companies alone such that they compete with local ones, rather, he said it should be a place where SMEs can move in and operate with ease.
On her part, Director-General, NISER, Professor Antonia Simbine stressed that unlocking the full potential of the nation’s industrial sector required concerted efforts of policymakers, industry leaders, researchers, educators and the broader society.
She stated that it required identification and nurturing of learning enablers that foster innovation, adaptability and competitiveness in the nation’s industrial sector.
Lead paper presenter, Dr Foluso Adeyinka, stressed that firms must be innovative, improve their production capacity and quality to meet international requirements cum standards.
Adeyinka, who is Associate Professor, Innovation and Technology Policy Department, NISER, said it was noteworthy that firms remain in the export market due to their ability to absorb additional costs associated with exports and embrace new technologies and international best practices.
To engender a competitive Nigerian industrial sector in international markets, other speakers at the seminar to include Dr Rasaki Dauda and Dr Iyabo Olanrele noted that the availability of export subsidy and financing should be expanded and conditions for assessing them should be explicit and open to all firms.
This is as they noted that government should maintain and strengthen ties for participation in the formulation of international trade policies and agreements in line with national interests, address ease of doing business in Nigeria by simplifying export regulatory processes.
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