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Sanwo-Olu Pushes Manufacturers to Innovate
Lagos State Governor, Babajide Sanwo-Olu, has urged manufacturers to harness the power of technology and innovation to boost productivity, optimize production processes, and improve product quality.
Speaking at the 57th Annual General Meeting of the Manufacturers Association of Nigeria (MAN), Ikeja Branch, Sanwo-Olu emphasized the importance of embracing new technologies such as automation, artificial intelligence, and data analytics to remain competitive in today’s fast-paced business environment.
The Governor, represented by Dr. Olugbemi Aina, Permanent Secretary, Ministry of Commerce, Cooperatives, Trade & Investment (MCCTI), stressed that the manufacturing sector must adopt a culture of research and development to create new products that can compete globally.
He also highlighted the need for vocational training and continuous professional development to ensure workers remain competitive.
Sanwo-Olu further emphasized the importance of sustainable manufacturing practices that minimize environmental impact, reduce carbon emissions, and promote responsible resource use.
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He noted that sustainability is not only good for the planet but also good for business, as consumers and investors increasingly prefer companies that prioritize sustainability.
In his remarks, President of MAN, Otunba Francis Meshioye, identified fiscal policy, infrastructure development, and competitiveness as key ingredients for manufacturers to survive the numerous challenges confronting the sector.
He charged members to be conscious of opportunities while navigating through the challenges.
Guest Lecturer and Managing Director of GB Foods Limited, Vincent Egbe, advocated for strategies such as localisation of employees and ingredients, adoption of local technology, and backward integration to limit the challenge of foreign exchange sourcing.
He emphasized the need for innovation, patience capital, and a long-term view to drive business success.
Chairman of MAN, Ikeja Branch, Robert Ugbaja, appreciated the support of the Lagos State Government to businesses and described the AGM as a platform to review and strengthen the Association’s advocacy to drive critical factors that ensure further growth of the manufacturing sector.
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