Minister of Industry, Trade and Investment Charged Stakeholders to Leverage on FG’s Incentives to Grow Capacities at PROPAK

Afrocet Montgomery, the organizers of Propak West Africa recently organized the 9th edition of its show for the packaging, plastics, food processing, and print at Landmark centre, Victoria Island, Lagos Nigeria.

The three-day exhibition kick-started with an opening ceremony declared by the Minister for Industry, Trade and Investment, Otunba Niyi Adebayo represented by, a director at the ministry Mrs. Olumuyiwa Abosede Ajayi-Ade.

He said: “Government business incentives such as the Executive Order 003, issuance of letter of credit and import duty exemption Certificate (IDEC) on certain machinery not manufactured in Nigeria will grow their businesses capacities”.

” Issuance of letter of support and Africa Continental Trade Agreement (AFCTA) window of opportunities are targeted at encouraging the Nigerian printing and packaging sector to add value to the production process and accelerate industrialization”. Otunba Niyi Adebayo stated

In the words of the Director General of the Manufacturers Association of Nigeria (MAN), Mr. Segun Ajayi Kadiri stated that the theme of Propak 2022 – technological innovation in machinery, processing, and smart packaging for increased quality, is timely and beneficial to over 2,500 of MAN members present in 10 sectors and 74 sub-sectors of Nigerian economy but however lamented that the Manufacturers are faced with hyper-inflation, high volatile exchange rate, insecurity, declining consumers purchasing power and harsh business environment and urged the federal govt to reflate the economy.