MAN Southeast urge FG to subsidize cost of materials, dole out incentives


MAN Southeast urge FG to subsidize 

cost of materials, dole out incentives 

...hails Soludo over 1b naira Mou with Smedan



The Chairman of Manufacturers Association of Nigeria South East, and the group Executive Director, Dozzy Group of companies Lady Ada Chukwudozie has  urged the Tinubu's government to subsidize the cost of raw material for manufacturers, dole out incentives and offer solutions affecting their challenges.

Lady Chukwugozie while making the appeal at the stakeholders’ engagement forum and the unveiling of the MANSA Export Trade Platform by AFREXIM Bank which took place at the Manufacturers Association of Nigeria (MAN) liaison office, in Anambra with its theme "Access to Finance & Cheaper Funding for SMEs in Nigeria and Organised by Manufacturers Association of Nigeria (MAN) equally hailed the Anambra State Governor Prof Charles Soludo for signing the Memorandum of Understanding with the Small and medium enterprises development Agency of Nigeria (SMEDAN) in the state which would grant them access to funds for increased production.

The Dozzy oil boss explained that reducing the cost of acquiring these raw materials used by Manufacturers will improve the output which will in turn increase both the manufacturers and the country's economic growth. 

Soludo instead of giving out cash, he shared one million palm tree seedlings to different households. Automatically, these families are empowered for in few coming years. Therefore, manufacturers should as well receive incentives so that they would produce more goods and if they produce more, they create wealth, jobs and improved economy, that way inflation will drop and Naira will begin to appreciate against the dollar”.

But if you take the avaliable resources and give it out as one of palliatives then we start being poor and at the end of the sy we would have spent the seed capital. 

So that is why we are saying that government should enpower production in the economy so that it will bring about prosperity in the country. 

She called Nigerians to renew their hopes, its always difficult to start new things but with time it will take its deep root and it will be come very fruitful. 

Speaking to newsmen, The Director General MANSA, Mr Charles Odili said "We as agency has started some subventions, we are here in Anambra state, special thanks to His Exellency, Prof Charles Soludo for signing a Memorandum of Understanding where Nano and small businesses who can access loans from 250,000 to 2.5billion naira at a single interest rate for working capital, work place procurement, and we are confident this will have an innovative and entrepreneurial stimulation of the economy in Anambra state and Nigeria as a whole".

Adding, Mr Odii noted that Enugu state  have also benefit from the 1billion naira loan while other states like Ebonyi, Abia and Imo states will soon follow suit. 

Mr Odili however, affirmed that the agency are collecting data and in the first week of Q2 which is April the banks will start disbursement, for those who have been contacted and  qualified to receive the monies. 

Presenting her speech, the former Director of Compliance, Head of ATG MANSA Digital Initiative of Afreximbank, Mrs. Maureen Mba said that the objectives of MANSA platform is to facilitates smooth boarding of customers and business relationship, to reduce operational workload and cost of compliance, to enable African financial institutions to cooperate and SMEs to meet customers and business partners’ expectations while ensuring regulatory compliance, to ensure consistency and effectiveness of compliance process amongst other. 

According to her, Afreximbank will leverage on partnerships with Central Bank, regulatory bodies and financial intelligence units to ensure success of the repository as well as regular audit and review of the MANSA platform for quality assurance purposes.

She further noted that MANSA platform provides a single source of primary data required for performing customers due diligence checks on counterparts in Africa.

Speaking at the event, the Anambra State Commissioner for Industry, Hon. Christian Udechukwu stated that the cardinal purpose of the event was to make manufacturers and traders access funds to enable them to improve in production of goods and services which he said Government wants to accommodate them and provide funds for them.

The Commissioner who represented the Anambra State Governor, Professor Charles Chukwuma Soludo urged both the manufacturers and traders to live by example and follow the footsteps of Professor Soludo since the Governor is committed to building access roads to enhance their establishments.

Udechukwu used the avenue to highlight some of Governor Soludo’s achievements in the State which included: empowerment scheme to youths, Teachers employment, building Health sectors, providing bore holes amongst others.

Delivering his vote of thanks, the former President of Onitsha Chamber of Commerce, Industry, Mines and Agriculture, Pharm. Uche Apakama rained encomium to all and sundry who participated in the event, he specifically lauded the leader of MAN, Lady Ada Chukwudozie.

Mr Chinemerem Oguegbe, Chairman, Nigeria Association of Small and Medium Enterprises NASME Anambra Chapter however, called on critical stakeholders for a mentoring and capacity building plan that will enable Nano and Micro Enterprises grow into Manufacturers in the future 

"While it’s true that finances is a great impediment to the growth and development of small businesses it is also important that through collaboration that these Nano and Micro Businesses tap into the production value chain of Manufacturers. This will avail small businesses the opportunity to work closely with Manufacturers while providing services that will enhance their business activites  

Adding that the Anambra Chapter is working on categorizing its members across different sectors to enable fast and easy collaboration with Manufacturers in Anambra. 

Mr Oguegbe equally sent special thank you to Lady Ada Chukwudozie the Chairman MANSA for providing the wonderful platforms for businesses to strive and Lady Maureen Mba for all their support at Afrexim Bank towards opening up trade relations across Africa for Business Owners through the MANSA platform

Those present at the event were

Vice Chairman, Manufacturer's Association of Nigeria, Anambra, Enugu, & Ebonyi state branch, Ichie Sunday Ezeobiora, fidelity, firstbank, Afreximbank, heads in the southeast, Chicason Group Founder/Group Executive Chairman Dr Alex Chika Okafor, founder and Group Managing Director of Dozzy Group Sir Daniel Chukwudozie, top Executives of Cooperate ventures, market leaders in Lagos, Ontisha and Nnewi, as well as international, among others.


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