The Federal Government and the Ogun State Government have pledged fresh fiscal and regulatory reforms aimed at improving Nigeria’s manufacturing environment, following renewed concerns by industry operators over multiple taxation, rising energy costs and burdensome regulations threatening the survival of businesses.

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The commitments were made during the 41st Annual General Meeting (AGM) of the Manufacturers Association of Nigeria (MAN), Ogun State Branch, held at the Olusegun Obasanjo Presidential Library in Abeokuta. The event, themed “Building a Resilient Manufacturing Sector: Surmounting the Challenges of Fiscal and Regulatory Policies and Tariffs,” brought together government officials and key stakeholders to discuss strategies for strengthening the country’s industrial sector.

Representing Ogun State Governor, Dapo Abiodun, the Commissioner for Industry, Trade and Investment, Adebola Sofela, acknowledged the challenges confronting manufacturers and assured industry players that the state government would harmonise taxes and levies before the end of the current administration. He said the government recognised the private sector as the engine of economic growth and had consistently implemented policies designed to create a business-friendly environment for industries.

Sofela noted that Ogun State’s industrial growth was driven by deliberate government policies and strategic partnerships with the private sector. He added that the administration had continued to invest in infrastructure, agriculture, youth development and other initiatives aimed at attracting new investments while supporting existing manufacturers.

Manufacturers, however, urged both the Federal and state governments to urgently address policy inconsistencies, high operating costs and regulatory bottlenecks, warning that sustained reforms are necessary to improve competitiveness, protect investments and drive industrial growth across the country.