Nigeria's Manufacturers Are Tired of 'Surviving' — and They're Right
Nigeria's manufacturers have been told for years to be resilient. The Manufacturers Association of Nigeria (MAN) is done with that advice. Its Director-General, Segun Ajayi-Kadir, just dropped some hard truths: resilience is not a virtue, survival mode is not a strategy, and celebrating businesses that are barely breathing is a suffering mentality.
Speaking with the media on the state of the sector, Ajayi-Kadir laid out exactly why Nigerian factories are struggling, why the naira keeps wobbling, and why the government needs to stop talking and start acting. This is a man who is tired of watching good businesses get crushed by bad policies.
Why the exchange rate is still strangling manufacturers
The naira is hovering around N1,400 to N1,500 per dollar. That is better than before, but it is still a heavy load for anyone trying to produce goods in Nigeria. Production costs stay high, and consumers feel it in their pockets.
Ajayi-Kadir says the real fix is simple: produce more locally and stop depending on imports. If the domestic economy does not improve its productivity, the country will keep relying on foreign goods, and the naira will keep taking hits. Better economic management would let the exchange rate moderate. It is fundamentally a productivity problem.
Banks are crowding out manufacturers
Here is the irony: banks would rather lend to the government than to the people who build things. Government lending is seen as low risk, so manufacturers get pushed aside. When the Cash Reserve Ratio (CRR) is high, it gets even worse.
Ajayi-Kadir put it plainly: you cannot ask a bank to keep huge amounts of money locked up and then expect it to fund factories. The system is set up to starve manufacturers of credit, and that has to change.
Resilience is not a virtue, it is a warning sign
This is the quote that should be on billboards:
“You do not beat your chest because you are resilient. That is a suffering mentality. You are supposed to be prosperous.”
Ajayi-Kadir is not asking for sympathy. He is asking for an environment where businesses can thrive, not just survive. Prolonged pressure does not build character, it breaks companies. It pushes them from resilience to incapacitation.
Buy Naija, build Naija
Nigerians need to patronise locally made goods. Every imported product is a job exported. Ajayi-Kadir says that when we buy foreign goods, we are effectively importing poverty and exporting opportunity. We pay for factories in other countries while our own workers stay idle.
The government's Nigeria First policy is supposed to fix this. It prioritises local goods in public procurement. The President has said it. Now it needs to actually happen. Ajayi-Kadir wants stronger implementation, not just speeches.
Unplanned inventory is a silent killer
Manufacturers are sitting on unsold goods worth up to N2 trillion. That is capital trapped in warehouses. That is money that should be growing businesses, instead paying for storage and, eventually, destruction of expired products.
Ajayi-Kadir's point is sharp: if you keep producing without selling, you are not a manufacturer, you are a marketer. And a bad one at that. Weak patronage and low purchasing power are the root causes, and both need urgent attention.
Refine our own crude, not import fuel
Nigeria exports crude oil and imports refined petroleum. That makes no sense. Ajayi-Kadir says the government should stop issuing import licences and instead incentivise local refineries. Make crude available to domestic refineries at competitive prices. Build the capacity to refine at home.
NAFDAC is using a hammer on a nail
On the ban of sachet alcoholic drinks, Ajayi-Kadir did not hold back. He called the approach reckless. Removing legitimate, regulated products pushes consumers toward unwholesome alternatives. That is exactly what happened when people died from locally brewed drinks in the South-West.
His message to NAFDAC: regulate, do not destroy. Factory closures and seizures cost jobs. Adults have the right to make their own choices. The answer is enforcement of standards, not wiping out an entire product category.
The bottom line
Nigeria's manufacturers are not asking for handouts. They are asking for a level playing field. They want policies that work, banks that lend, and citizens who buy local. The potential is there. The will has to match it.
As Ajayi-Kadir said, manufacturers should not be forced to operate indefinitely in survival mode. They should be prospering. That is the Nigeria we should be building.
Frequently asked questions
What is the Manufacturers Association of Nigeria asking for?
MAN wants better economic management, lower exchange rate pressure, improved access to credit, stronger implementation of the Nigeria First policy, and domestic refining of crude oil.
Why is resilience not considered a virtue by MAN?
MAN's Director-General says celebrating resilience encourages a suffering mentality. Businesses should operate in a conducive environment and be prosperous, not just survive.
How does patronising local products help Nigeria?
Buying locally made goods keeps jobs in Nigeria, supports local factories, and reduces the pressure on the naira by cutting imports.
What is wrong with NAFDAC's approach to sachet alcohol?
MAN says removing legitimate products pushes consumers toward unregulated alternatives, risking lives and jobs. It calls for enforcement of standards instead of factory closures.