The Minister for Industry, Trade and Investment, Otunba Niyi Adebayo has enjoined practitioners in the printing, packaging, food processing, labeling, paper and printing industry to take advantage of the Federal Govt business incentives, such as the Executive Order 003, issuance of letter of credit and import duty exemption Certificate ( IDEC) on certain machinery not manufactured in Nigeria to grow their businesses capacities.
Otunba Adebayo made this known while declaring open the 9th Propak – printing and packaging exhibition organised by Afrocet Montgomery WA limited in Lagos.
According to Otunba Niyi Adebayo ” issuance of letter of support and Africa Continental Trade Agreement ( AFCTA) window of opportunities are targeted at encouraging the Nigerian printing and packaging sector to add value to production process and accelerate industrialisation.
The Minister of Industry, Trade and Investment, Niyi Adebayo further commended Afrocet Montgomery, organiser of Propak exhibition for providing the platform for decision makers and investors to engage the federal government.
In his opening remarks, Mr George Pearson, Regional Director Afrocet Montgomery WA limited noted that the ” exhibition remains the topmost platform for printing, labeling and packaging stakeholders to deepen their knowledge about global trends and advancement in the manufacturing industry”.
The Director General Manufacturers Association of Nigeria ( MAN), Mr Segun Ajayi Kadiri further noted that ” the assemblage of investors and exhibitors at Propak would help showcase advanced product innovation that would positively impact the profitability of businesses.”
In Mr Segun Ajayi Kadiri words ” the theme of 9th Propak Exhibition, technological innovation in machinery, processing and smart packaging for increased quality, is timely and beneficial to over 2,500 MAN members who are present in 10 sectors and 74 sub sectors of Nigerian economy.
He lamented that Manufacturers are faced with hyper inflation, high volatile exchange rate, insecurity, declining consumers purchasing power and harsh business environment and urged the federal govt to reflate the economy.
