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Obsolete machinery, equipment bane of manufacturing, says MAN
  • Post by Admin on sunday, March 05, 2015

The diversification effort of the Federal Government may have received a boost with the interest shown by foreign and local investors in manufacturing at the ongoing Nigerian Manufacturing Equipment Expo in Lagos.

Organised by the Manufacturers Association of Nigeria (MAN), Raw Materials Research Development Council (RMRDC) and Clarion Events West Africa, the expo is targeted at boosting the technological base of the manufacturing sector.

MAN President Dr Frank Udemba Jacobs said the major challenge of the sector is obsolete machinery and equipment, which impede manufacturers' efficiency, especially small and medium-scale ones, as they slow down production and inhibit economy of scale.

He said MAN was poised to lead the sector to play its key role in the new vision of the nation, with the belief that Nigeria has the potential to become one of the leading industrialised economies of the world.

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