Paint Makers Seek Govt Intervention Amid Economic Challenges
Paint makers in Nigeria are urging the Federal Government to address economic challenges and create a more favorable business environment by reviewing policies that impact indigenous manufacturers. The sector faces issues such as high energy costs, escalating machinery maintenance expenses, non-availability and the high cost of replacement for machinery parts, raw material shortages, rising costs, and inadequate funds to increase stock.
The Chairman of the Paint Manufacturers Association of Nigeria (PMAN), Mr. Abimbolu Babatunde, emphasized the need for government policies to genuinely support businesses, noting that challenges arise when policies fail to reach manufacturers as intended. He raised concerns about regulatory bodies that may prioritize personal gain over fostering a conducive business environment, pointing to the “Nigerian factor” as a real and active element.
Distribution challenges also plague the industry, with inadequate or non-existent roads and rail systems, compounded by unregulated activities of individuals posing as local government officials.
Babatunde revealed that the paint manufacturing sector is exploring tangible innovations within research institutions, signaling a united effort within the industry to overcome challenges and drive progress. He stressed the government’s role in promoting technology through educational reform and reshaping curricula to foster innovation tailored to the paint manufacturing sector.
Optimistic about the industry’s future, Babatunde highlighted collaborative efforts among PMAN members to devise innovative solutions and address material scarcity, rising costs, and distribution obstacles. The call for collective action emphasizes the industry’s commitment to resilience and progress, seeking government support in creating an environment conducive to growth and innovation.
