Smuggled imports weaken Nigerian manufacturers, Halifa Rabiu warns
By the AFREEQUE newsroom, based on ThisDay
Imports of finished products and limited access to affordable credit are hurting Nigerian manufacturers, according to Halifa Bala Rabiu, managing director of Halba Foods. The industrialist is calling for better protection for small and medium-sized enterprises and targeted support to strengthen local production, according to his interview with ThisDay.
Halifa Bala Rabiu, managing director of Halba Foods, says the smuggling of imported finished products is weakening Nigerian manufacturers and calls for better protection for small and medium-sized enterprises. In an interview with ThisDay, he identified competition from imported goods as one of the main obstacles to local production.
Rabiu cited the edible oils market in particular. Nigeria, he said, has producers of palm, soya, groundnut and cottonseed oils, whose products could be packaged and distributed locally. The arrival of finished products through unofficial channels, he argued, reduces opportunities for value addition and the development of domestic businesses.
The executive also highlighted the difficulty of accessing affordable finance, which is holding back investment and the expansion of small businesses. He called for an environment that would enable local manufacturers to increase production capacity and create jobs without being undercut by cheap imported products.
