PAMA backs FG’s commitment to affordable long-term industrial financing

By Yinka Kolawole The Pan African Manufacturers Association (PAMA) has welcomed the Federal Government’s commitments to improve energy supply, provide affordable long-term financing for industries, strengthen local procurement, secure industrial corridors and establish quarterly engagements with manufacturers. According to the association, these priorities align with its broader commitment to advancing industrialisation, strengthening regional value chains and expanding intra-African trade.

However, it stressed that effective implementation of the commitments would be critical to improving the operating environment for manufacturers, boosting industrial productivity and strengthening Nigeria’s competitiveness in regional and global markets. PAMA stated this while commending the Manufacturers Association of Nigeria (MAN) for the successful hosting of its 54th Annual General Meeting (AGM).

Held under the theme, “Leveraging National Industrial Policy to Position Nigeria as Africa’s Industrial Hub,” the AGM focused on implementing the Nigeria Industrial Policy 2025 (NIP 2025), enhancing manufacturing competitiveness, expanding access to industrial finance, reducing energy costs and promoting local value addition. A major highlight of the event was the 6th Adeola Odutola Lecture, delivered by Dr.

Kandeh Kolleh Yumkella, former Director-General of the United Nations Industrial Development Organization (UNIDO). Discussions at the meeting emphasised the need to translate industrial policy commitments into tangible economic outcomes through effective implementation, institutional accountability and sustained collaboration between the public and private sectors.

PAMA reaffirmed its commitment to strengthening partnership with MAN, noting that closer collaboration among manufacturers across Africa is essential to developing regional value chains, and expanding industrial capacity. and unlocking opportunities under the African Continental Free Trade Area (AfCFTA). It further emphasised the importance of building a competitive and integrated African manufacturing sector capable of driving sustainable economic growth, creating jobs and increasing the continent’s participation in regional and global trade.