The Manufacturers Association of Nigeria (MAN) yesterday queried statistics released by the Central Bank of Nigeria (CBN), which indicated that the country's Gross Domestic Product (GDP) was growing at six per cent.

Director General of MAN, Chief Jide Mike, said at the association's yearly media luncheon in Lagos that the apex bank had a responsibility of explaining how it arrived at the figure because it appeared to be contrary to prevailing realities.

Mike also alleged that the Federal Government had not demonstrated sufficient concern for the plight of the nation's industrial sector, canvassing what he described as concrete plans for reviving the sector.

He said: "MAN disagrees with the CBN's statement that the nation's GDP has been growing at six per cent because as an association of the Organised Private Sector, we have not seen the impact of the growth on the manufacturing sector. So, MAN will always disagree with any statistics by the Nigerian Bureau of Statistic (NBS) that does not grow the manufacturing sector."

According to him, the nation's GDP has not improved as desired because of government's non-commitment to the revival of the industrial sector. Mike stated that though manufacturing sector had always been the backbone of the nation's economy, government's insensitivity to the plight of manufacturers caused the sector to contribute minimally to the nation's GDP.

He stressed that the nation's capacity utilisation level was low as most industries operating in the sector were starved of credit facilities, noting that this had slowed the economy's growth. According to him, the global meltdown also has an adverse effect on the manufacturing sector, as it prompted many factories to close shop. He said the sector had not yet come out of the situation, stressing that the Federal Government should initiate concrete plans that would help resuscitate the comatose industrial sector.

Also speaking on MAN's Independent Power Plant Project (IPP), he said the association would still go ahead with the plan, adding that the machinery to actualise this was in place, but that what was delaying the project was the issue of pricing, transmission of power, and gas sharing formula. He said the project commenced in Apapa last December and the association was targeting 10 industrial firms to commence the scheme.

Insisting that the association would forge ahead with the plan because power supply in the country was bad, he noted that members needed power to run their companies. The MAN chief reaffirmed the association's opposition to the recently introduced Cargo Tracking Note (CTN) and disclosed that MAN had petitioned government on the matter and asked it to look critically into the issue, and find an amicable way of settlement.

"We are not accepting it and if the government goes ahead to implement it, government should pay for it, " he said.

(Source:Guardian)