A frontline pioneer aluminum extrusion company, Nigerian Aluminum Extrusion Limited, NIGALEX has called on the federal government to urgently provide adequate protection for local manufacturing in the country.
Managing Director and chief Executive Officer, NIGALEX, Mr. Iyiola Ishola, commended the federal government on its various efforts towards creating enabling environment for the local industries, but stressed that more concerted effort to protect local industries is critical to conserve the scarce foreign exchange and reduce unemployment in the country.
Addressing journalists at the company’s office in Lagos, he pinpointed the challenges, which have always impacted negatively on the operations of the companies in the real sector of the economy such as the low level of awareness and patronage of major brands; preference for cheaper but low quality products; unwholesome practices of some dealers and fabricators who substitute NIGALEX specification for low gauged aluminum profiles and the almost non-existent federal government’s protection for the local manufacturers until recently.
He explained that the implementation of local content policy was long overdue, saying that to achieve this, there is the need for a holistic review of the current Common External Tariff (CET) with the aim of offering adequate protection to the local manufacturers.
He said the company has unfolded a set of strategy to boost its operation, reinforce its competitive edge to put the manufacturing outfit on a greater path of profitability.
“Besides, the company has identified some of the problems militating against the manufacturers of aluminum products and appeals for immediate intervention by the Federal Government as a way of ensuring lasting solution,” he added.
According to him, the company is currently on the next phase of its expansion drive, business growth and re-positioning for optimal performance.
Ishola identified the efforts being put in place in order to move the company to the next level, saying that, “We have commenced strategic popularisation of our value through effective partnering with the press to create the needed awareness for the company’s products. We are ready to increase production output through our installed capacity of 7, 500 tonnage per annum and develop requisite channels to sell these outputs. We shall embark on effective logistical plans to enhance operation within the agreed date and time. We are already investing heavily in human capital with a view to building the required.
Source: Thisday Nigeria