By Joy Akinsanya
Manufacturers Association of Nigeria, Ogun branch, elects new chairmanh, on Thursday elected Mr Martins Awofisayo, Managing Director of Harvestfield Industries Ltd., as its new chairman.
Awofisayo succeeded the outgoing chairman, Mr George Onafowokan, Managing Director of Coleman Technical Industries Ltd., following the private session of the association’s 41st Annual General Meeting (AGM) held in Abeokuta.
In his valedictory address, Onafowokan said the branch recorded remarkable growth during his four-year tenure through increased membership, improved subscription collections, stronger advocacy, and enhanced stakeholder engagement.
He said membership grew from about 290 companies to more than 360, while the branch consistently recorded over 100 per cent annual subscription collection, reflecting members’ confidence and commitment to the association.
“As I stand before you today, this 41st Annual General Meeting marks the conclusion of my tenure as Chairman of the Manufacturers Association of Nigeria, Ogun State Branch.
”I’ve had the rare privilege of serving this great branch for four eventful and fulfilling years,” he said.
Onafowokan described the position as one of the most rewarding responsibilities of his professional career, attributing the achievements to the collective efforts of the branch executive committee, branch council, past chairmen and members.
He also appreciated the executive and council members for their support, cooperation and sacrifices throughout his administration.
In his acceptance speech, Awofisayo pledged to consolidate the achievements of the outgoing administration and promote a more conducive business environment for manufacturers in Ogun State.
“We will make Ogun comfortable for all the members and I will build on the legacy of Onafowokan,” he said.
He also promised to work closely with past chairmen to benefit from their experience and guidance.
Earlier, the outgoing chairman raised concerns over the difficult operating environment confronting manufacturers.
He cited high energy costs, inflation, foreign exchange volatility, multiple taxation and limited access to affordable financing.
He said Nigeria’s economy recorded modest growth of between 3.0 and 3.2 per cent in 2025, while manufacturing contributed about 12 to 13 per cent of the Gross Domestic Product (GDP), with capacity utilisation averaging between 55 and 60 per cent.
According to him, Naira depreciation, rising energy costs, inflation, foreign exchange constraints, and high logistics expenses have increased production costs and reduced profitability.
He said the situation had forced many manufacturers to suspend expansion plans.
He added that headline inflation averaged between 30 and 32 per cent, while commercial lending rates of between 28 and 35 per cent further constrained access to affordable financing.
Onafowokan said manufacturers in Ogun state also faced multiple taxation, overlapping regulations, infrastructure deficits, rising compliance costs, and security concerns in some industrial clusters.
He called on government at all levels to improve access to finance, strengthen infrastructure, simplify tax administration and provide an enabling environment to unlock the full potential of Nigeria’s manufacturing sector. (NAN)(www.nannews.ng)
Edited by Yetunde Fatungase