Measures aimed at making the country’s manufacturing sector competitive have been prescribed by the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

These measures include lowering interest rate, increased power generation and distribution, reducing multiple taxes charged by regulatory agencies, reviewing cash reserve ratio, among others.

Mohammed Badaru Abubakar, national president, NACCIMA, gave these recommendations during the media briefing on state of the nation last Monday.

According to him, small and medium scale enterprises (SMEs) were the major drivers of the economy and needed assistance from the authorities to drive growth.

He explained that most industries are agro-based; giving an instance that if you produce cotton at a cheaper rate, clothes will be cheap, stressing that there is the need for government support from the whole cycle of agriculture to manufacturing, and then to infrastructure.