The Manufacturers Association of Nigeria (MAN) has welcomed the decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to maintain the benchmark interest rate at 27% and adjust the standing facilities corridor.

However, the association urged the CBN to consider a downward review of the interest rate to reduce the high borrowing costs and incentivize long-term investments in the manufacturing sector.

In its position paper on the MPC meeting, MAN noted that despite the CBN’s efforts to stabilise the economy and ease inflationary pressures, the high lending rates of 30-37% remain a significant challenge to manufacturers.

The association emphasised that persistent high lending rates will limit access to affordable credit for manufacturers, especially small and medium-sized enterprises.

MAN also called on the government to strengthen fiscal discipline, invest in infrastructure, and implement complementary fiscal measures that support industrial development and promote structural reforms.

The association urged the government to resolve the lingering insecurity issues in the country, particularly in agricultural and industrial zones, to stabilise food supply and raw material inputs.

MAN made several recommendations, including a downward review of interest rates, additional policy instruments to facilitate credit flow to the real sector, and collaboration between the government and the CBN to stabilise the naira and manage external risks.

The association reiterated its commitment to working with the CBN and the government to promote economic growth and development, and urged the authorities to seize the opportunity to promote credit-led growth, especially in productive sectors, while managing risks through fiscal discipline and structural reforms.

The Manufacturers Association of Nigeria (MAN) has expressed concerns over the recent directive issued by the National Agency for Food and Drug Administration and Control (NAFDAC) to outrightly ban the production and sale of alcoholic beverages packaged in sachets and small PET bottles as it is a setback to prior stakeholder agreement and a threat to local industry.

In a statement issued by Director-General, Segun Ajayi-Kadir, MAN criticised the ban scheduled to take effect on December 31, 2025, saying it contradicts a jointly validated National Alcohol Policy endorsed in October by all key stakeholders, including NAFDAC and the Federal Ministry of Health.

The association argued that the Senate’s resolution, passed on November 6, 2025, overlooked this consensus and failed to consult affected industry players.

Ajayi-Kadir said the earlier Ministry of Health directive granting a one-year extension for the phase-out of sachet alcohol should have guided the Senate’s decision.

“A stakeholders’ consultation, as previously done by the House of Representatives, ought to have preceded any ban,” he stated, warning that the move risks derailing progress made through the policy’s multi-sectoral framework focused on enforcement, monitoring, and consumer education rather than prohibition.

Ajayi-Kadir dismissed claims that sachet alcohol fuels underage drinking, citing independent government research that found no empirical link.

He noted that manufacturers have collectively invested over ₦1 billion in responsible drinking campaigns across media platforms.

Beyond policy concerns, Ajayi-Kadir warned of severe economic fallout should the ban proceed, projecting losses of over ₦1.9 trillion in investments, massive layoffs affecting more than 500,000 direct and 5 million indirect workers, and the potential collapse of indigenous beverage producers.

“This policy shift could destabilise a sector that is only beginning to recover,” he cautioned.

He also argued that sachet packaging provides affordable, regulated options for adult consumers, helping curb excessive drinking while limiting illicit trade. “A ban would drive demand underground, empower smugglers of unsafe foreign products, and deprive government of much-needed revenue,” he added.

MAN has therefore urged the Senate to withdraw its resolution and for NAFDAC to suspend enforcement of the ban, emphasising that regulation not prohibition remains the most sustainable path forward. “We support the removal of unsafe products, but such actions must rest on evidence, not emotion”. The livelihoods of millions of Nigerians depend on it.” he concluded.

The Manufacturers Association of Nigeria (MAN) has thrown its weight behind the Federal Government’s approval of a 15 per cent import tariff on petrol and diesel, describing it as a patriotic and strategic policy aligned with the nation’s “Nigeria First” agenda.

MAN said the move would accelerate the growth of local refining capacity, promote value addition, and support the patronage of Made-in-Nigeria products. The association lauded the government’s decision as a clear demonstration of its commitment to strengthening domestic industries and achieving long-term energy security.

According to MAN, the introduction of the tariff marks a major step toward conserving foreign exchange, enhancing local content, and advancing Nigeria’s industrialisation goals. It comes less than a month after the association’s 53rd Annual General Meeting themed “Nigeria First: Prioritising Patronage of Made-in-Nigeria Products.”

The association noted that the measure reassured domestic manufacturers that the government is responsive to the need to nurture indigenous production and reduce dependence on imported refined petroleum products.

In a statement signed by its Director-General, Mr. Segun Ajayi-Kadir, MAN emphasised that the tariff will not only protect local refiners but also attract new investors into the energy sector, including holders of existing refinery licences.

MAN highlighted the importance of full implementation of the domestic crude oil supply framework under the Petroleum Industry Act (PIA), which it said would guarantee steady crude availability for local refineries and reduce pressure on scarce foreign exchange.

MAN stressed that there is no better route to fixing the Nigerian economy than by protecting local industries, encouraging domestic patronage, fostering value addition, and promoting industrial development driven by local content.
Nigeria, it noted, is endowed with vast oil resources, yet billions of dollars continue to be spent on the importation of refined petroleum products.

MAN said the new tariff policy would help conserve foreign reserves, strengthen the Naira, and create a more stable environment for investment.

The association described the 15 per cent duty as a deliberate and well-conceived policy instrument designed to protect and encourage domestic producers, curb dumping, and ensure stability for local refiners.

It added that the tariff would fast-track the operational readiness of domestic refineries, enhance energy supply to industries, and reduce disruptions that have hampered industrial production in recent years.

MAN listed multiple benefits expected from the policy, including the encouragement of local refining, promotion of backward integration, creation of jobs, and the development of technical expertise. The association also noted that the policy would strengthen linkages between refineries and manufacturers while supporting engineering and logistics services across the energy value chain.

While endorsing the move, MAN called for transparent and efficient implementation to ensure that the benefits extend to both industries and consumers without creating additional cost burdens. It urged regulatory agencies such as PPPRA, NMDPRA, and FCCPC to monitor pricing to prevent exploitation or anti-competitive practices.

The group also urged the government to reinvest tariff proceeds into energy infrastructure, refinery efficiency, and industrial power support schemes, including incentives for small and medium manufacturers reliant on diesel generators.

MAN further advised the government to provide incentives for additional modular and conventional refineries and to fast-track the full privatisation of government-owned refineries, which it said have proven unsustainable.
Reaffirming its commitment to the “Nigeria First” policy, MAN expressed optimism that the tariff would mark a turning point toward energy independence, industrial competitiveness, and sustainable economic growth, driven by Made-in-Nigeria products.