Afreximbank building Quality Assurance Centre for competitiveness of Nigerian Manufactured Products

Business News

 

♦ Dangote Refinery, among intervention projects in Nigeria

 

 

By Franklin Alli

“WHEN you talks about manufacturing, it is not just a story about standards, it is a story about quality and as such, if you can’t manufacture to the right quality, then, you are several steps behind; that is why African Export –Import Bank (Afreximbank) is promoting the development of African Quality Assurance Centers (AQAC) in Nigeria.

“There is going to be a pilot of this AQAC which at the moment is going to be in Ogun State.”

Prof. Benedict Okey Oramah, President/ Chairman of Board of Directors of the Bank, gave this hint when he addressed the country’s manufacturers at the just ended 47th annual general meeting of Manufacturers Association of Nigeria.

“The government has generously provided land to Afreximbank towards the development of this center, and work has started on the project; and I feel at the end of the day, it is going to be one of the transformative interventions of the bank in the Nigerian manufacturing sector,” he said.

He stressed that one of the key issues Nigerian that manufacturers in the country are facing is value addition.

In addition, he said that the bank has a range of tools whether advisory, debt /equity financing that can really move manufacturers in Nigeria from the current level of growth or the current level of success that they have to even greater height and success.

“Even if your factory is perfect in terms of infrastructure, but if once you cross the gate of your factory, there are no roads to lead you to your market, you have a problem; the bank also have tools to address this kind of issue,” he said.

He also disclosed that the bank is doing what it can to support the development the manufacturing sector in Nigeria,  its investment in Dangote Refinery and Petrochemical Plants including industrial parks and exports processing zones in the country.

“As we are all aware, infrastructures challenge prevents us from being competitive when we are manufacturing and operating industries and export processing zones is one of the tools to address these kinds of challenges.

“The bank is also supporting Special Economic Zones (SEZs), in particular, the bank is very supportive of the Made in Nigeria Export Initiatives project (MINE).

Under this project, we are looking at developing a number of industrial parks including Lekki –Epe industrial parks, as well as the Eyimba Economic City.

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