The Chemical and Non-Metallic Products Employers Federation, CANMPEF, has called on the federal government to declare a state of emergency on the manufacturing sector, saying only the government's direct intervention can save the sector.

At its 45th Annual General Meeting, AGM, in Lagos, President of CANMPEF, Mr Devakumar Edwin, lamented that the Chemical and Non-Metallic Industry faced several headwinds throughout the year.

According to him, "In retrospect, many of the sector's challenges have built-up over time, from unreliable power supply, currency fluctuation, inflationary pressures, insecurity, multiple taxation to inadequate infrastructure.

"The government's policies, particularly the removal of the petrol subsidy and the floating of the Naira, have compounded the pressure on industrial operations."

Edwin further stated: "Despite these constraints, Nigeria's manufacturing sector is determined to persevere. Our members continue to deploy measures such as effective resource allocation and rethinking growth strategies to stay afloat. The resilience of Nigeria's industrial players is commendable, however long-term solutions must be timely implemented if we are to thrive rather than just survive."

He noted that "For the manufacturing sector to reach its full potential, government intervention is critical.

If priority attention is given to manufacturing as a strategic value-adding sector, capable of driving economic transformation, then the country can earn its position among industrialized nations."

"To unlock the potential of Nigeria's manufacturing sector, the government must commit to the protection for local manufacturing.

"The sector requires immediate attention, and this can be achieved through policies that promote growth, investment, and innovation.

"The government can reduce operational costs and encourage growth by offering tax reliefs and removing tariffs on key agricultural and manufacturing inputs," he added.