By Charles Nwaoguji
Manufacturers under the auspices of Manufacturers Association of Nigeria (MAN) said they have donated about N8 billion in cash and N300 million worth of palliatives to both federal and states governments during the COVID-19 pandemic in the country.
MAN President, Mansur Ahmed,who made this known at the MAN 2019 Annual General Meeting (AGM), recenntly in Lagos. said members of the association heeded the clarion call to lend support to the federal government when it was most needed by providing palliatives as a way of cushioning the hardship being experienced by Nigerians and also to contain the spread of COVID-19 in the country.
Ahmed explained further that the pandemic was a turning point, not only in the economy, but also in the day to day activities of the people.
He said many countries, including Nigeria, experienced adverse effects of the COVID-19 pandemic, which negatively impacted the world economy and the way people do things. Ahmed added that Nigerian manufacturers faced impending challenges of the COVID-19 pandemic with impacts on their businesses as they struggled to navigate out of the pandemic.
Particularly, he said, the consequence of this development was that sectoral groups ran short of supplies of raw materials due to disruptions in the global value chain and many still cannot access forex. He added that the global price of crude oil also crashed, leaving the country with no choice than to review downward its expenditure plan for the year.
“I welcome you to the MAN 48th AGM today. This year marks a turning point, not only in the economy, but also in the day to day activities of our lives. As you already know, countries, including Nigeria, are experiencing the adverse effect of the COVID-19 pandemic, which is negatively impacting the world economy and the way we do things.