MAN, RMRDC to empower manufacturers at NME Expo

The Manufacturers Association of Nigeria (MAN) and the Raw Materials Research and Development Council (RMRDC) will be empowering manufacturers to rise on an international scale and realise their true potential at the 7th edition of the Nigeria Manufacturing and  Equipment Expo (NME Expo) & the Nigeria Raw Materials Exposition (NIRAM Expo,) Conference and Exhibition.

A release signed by Segun Ajayi-Kadir, the Director General of MAN, said the expos would be held on from November 21-23, 2023, in Lagos.

 “The world is changing at an unprecedented rate in terms of innovative technologies, shifting customer expectations, as well as increasing social awareness of gender equality and restoration of previously marginalized communities. These major shifts have a considerable impact on the future of Africa’s manufacturing sector.

“If African manufacturers can efficiently balance a combination of efficient economics of production and supply chains, strong and reputable products, loyal customers, an established logistics network, as well as reliable on-line business elements, they will be well-positioned in the future industrial marketplace,” it stated.

According to the association, technological advancements have given rise to the revolutionary Industry 4.0.

“This phenomenon represents the complete digitisation of factories and manufacturing facilities that will ultimately merge with the unique needs of individual customers, resulting in benefits such as customised product design and manufacturing processes, as well as speed to market, in order to maximise customer satisfaction levels.

“Moreover, Industry 4.0 brings with it a host of additional benefits for manufacturers such as cost, productivity, profitability and operations that manufacturers are striving to control, streamline, optimise and enhance. Similarly, these opportunities extend to small and medium businesses, allowing them to establish new business models and integrate into global value chains,” the statement further read.

It added that experts purported that Africa conveyed a positive economic growth trajectory, deeming it a feasible alternative to other markets.

It read partly, “Africa is regarded as the world’s fastest-growing continental economy and its Business-to-business market is fundamental to this boom. B2B expenditure in the continent’s manufacturing landscape is projected to reach $666.3 billion by 2030, $201.28 billion more than it did four years ago.

As the buying power of Africa’s middle class continues to rise, demand for products and services across the continent, subsequently increases, thereby enabling sustainable economic growth and the much-needed integration amongst regions. Radical transformations within both a global and African manufacturing context will be integrated into the entire supply-chain, thereby optimising operations and ultimately stimulating efficiency and innovation for years to come.”

MAN noted that by successfully assimilating advanced technologies into their systems, existing and prospective African industrialists could expect to realise even greater revenue and profits from their investments.

“As the world continues to shift, subsequently affecting all aspects of industry as we know it, Africa has proven steadfast. Improved political stability, growing investment prospects, business-friendly trade agreements, Industry 4.0, enforcement of policies empowering black and female manufacturers in addition to governmental funding solutions, to name a few, are pivotal factors demonstrating a positive and thriving manufacturing future for Africa,” it remarked.