The Manufacturers Association of Nigeria (MAN) has said that Nigeria could become a “dumping ground for foreign-made products” if certain structures are not put in place.
The association stated that the African Continental Trade Agreement (AfCTA) is beneficial to the country because of the volume of goods available in the country for shipment.
In an interview with Vanguard, the association’s Director of Economics and Statistics, Ambrose Oruche, urged the federal government to ensure that the issue of infrastructure is promptly addressed.
Oruche also said that other factors such as interest rate, prioritisation of manufacturing, high cost of funds, and access to forex are among issues that the government should look into.
READ ALSO: We Must Scale Up Intervention for MSMES, Says Osinbajo
He said, “AfCTA is supposed to be beneficial to us because we have more manufactured goods across the region that we can think of, but if we are not careful it might be harmful to us in the sense that we could experience trans-shipment and people packaging something that is made in China, labeling it made in Africa.
“It is something we have to be careful about to avoid Nigeria becoming a dumping ground for foreign-made products. If the rule of origin is implemented and safety measures are adopted to avoid dumping, Nigeria will be able to take advantage and benefit from it.
“We have to look at our competitiveness and what makes us uncompetitive. For instance, addressing the issue of infrastructural deficit, the high cost of funds, interest rate, talk about prioritising manufacturing, and giving them access to forex, taking care of regulatory challenges.”
 has said that Nigeria could become a "dumping ground for foreign-made products" if...){kind=link}