STAKEHOLDERS in the Food, Beverage and Tobacco (FBT) sector of the Manufacturers Association of Nigeria (MAN) have stressed the need for local manufacturers and brand custodians to ensure they sustain the culture of quality, throughout the entire manufacturing process, so as to maintain brand loyalty and consistently enhance their bottom lines.
Director-General/CEO, MAN, Segun Ajayi-Kadir, gave this charge at the 2024 Annual General Meeting (AGM) of the Food, Beverage and Tobacco sector of MAN, held in Lagos, recently.
While urging the nation’s manufacturers to prioritise quality, standards and innovation in the manufacturing process to remain relevant to consumers, Ajayi-Kadir also stressed the need for collaboration among the manufacturers to enable them make greater impact on the Nigerian economy.
He decried the increase in electricity tariff, saying it has continued to worsen the already harsh operating environment.
Speaking on the theme, ‘Cultivating Value: Employing Quality, Standards and Innovation in Strengthening Food, Beverage and Tobacco Manufacturing,’ guest speaker and Head of Corporate Affairs and Sustainability of Rite Foods Limited, Mr Ekuma Eze, described the Food, Beverage, and Tobacco sector as a significant sector in the nation’s manufacturing landscape, since it represents 34 percent of the entire manufacturing sector and with a Gross Domestic Product contribution of about five percent in 2022.
He, however, noted that although the manufacturing industry remains a key driver of the economy, Nigeria’s manufacturers are far from being competitive due to structural and systemic challenges that have inhibited the growth of manufacturing and its contribution to the economy.
and then