60% of North East industries shut over insecurity, says MAN

The Director-General of the Manufacturers Association of Nigeria (MAN), Dr. Segun Ajayi-Kadir, says about 60 per cent of industries in the Northeast have shut down operations due to the devastating impact of insecurity on industrial activities in the region. Ajayi-Kadir disclosed this while receiving members of the Executive Council of the Commerce and Industry Correspondents […]

The Director-General of the Manufacturers Association of Nigeria (MAN), Dr. Segun Ajayi-Kadir, says about 60 per cent of industries in the Northeast have shut down operations due to the devastating impact of insecurity on industrial activities in the region.

Ajayi-Kadir disclosed this while receiving members of the Executive Council of the Commerce and Industry Correspondents Association of Nigeria (CICAN) during a courtesy call to his office at the MAN House in Lagos.

According to him, the persistent security challenges, including insurgency, banditry, and other violent activities, have forced many manufacturers to suspend production, while several industrial facilities have become desolate due to the hostile business environment.

The DG said the prolonged insecurity has disrupted supply chains, increased production costs, and led to the displacement of numerous industries that once contributed significantly to economic growth, employment generation, and industrial development in the region.

The MAN Director-General observed that many investors are now reluctant to establish or expand manufacturing facilities in the Northeast due to concerns over the safety of personnel, equipment, and investments.

He stressed that the closure and displacement of industries have resulted in the loss of thousands of jobs, worsened poverty levels, and limited economic opportunities for residents of the affected states.

Ajayi-Kadir called on the federal government and security agencies to intensify efforts to restore peace and stability across the region, emphasising that sustainable industrial growth cannot thrive in an atmosphere of insecurity.

He maintained that improved security would encourage displaced manufacturers to return, attract fresh investments, and revive economic activities in the Northeast.

The MAN chief also urged policymakers to implement targeted support measures for affected industries, including infrastructure development, access to financing, and incentives aimed at rebuilding the region’s industrial base.

Expressing optimism about the future, he said the Northeast could regain its position as a major hub for manufacturing and commerce if security improves and appropriate government interventions are sustained.

While commending President Bola Ahmed Tinubu for taking bold steps to reposition the nation’s economy, Ajayi-Kadir noted that some of the administration’s policies have begun to yield positive results.

He, however, lamented that many Nigerians are yet to fully enjoy the benefits of the reforms due to the activities of economic saboteurs.

He called on Nigerians to embrace aggressive industrialisation as a strategy for reducing the country’s dependence on foreign goods and strengthening the national economy.

He assured that MAN would continue to protect the interests of its members and advocate policies aimed at addressing challenges confronting the manufacturing sector across the country.

Earlier, CICAN Chairman, Taiwo Hassan, said the visit was aimed at strengthening the longstanding relationship between the association and MAN.

Hassan added that CICAN had concluded plans to intensify the promotion of the Made-in-Nigeria campaign to support local manufacturers and contribute to national economic development.