Abuja – January 9, 2024 – Viewpoint Housing News.
Paint producers have called on the federal government to interfere in the industry by evaluating its laws and addressing unfavourable business conditions that affect domestic manufacturers in light of the nation’s economic difficulties and high cost of doing business.
The high cost of replacing equipment components, the rising cost of maintaining machinery, the cost of energy, and non-availability are some of the issues mentioned. In addition, there are issues with the unavailability of raw materials, growing prices, and insufficient money to expand inventory.
In a chat with The media, Mr. Abimbolu Babatunde, the chairman of the Paint Manufacturers Association of Nigeria (PMAN), stated: government policies are supposed to support companies, but frequently it does not reach the manufacturers as planned and ultimately it becomes a way to impede business operations.
“Regulators who fulfil their responsibilities and callings will create an environment that is conducive to business growth at any time. However, if regulators view their main function as obtaining personal benefit, this intended environment will be detrimental to businesses.” Real and active is the so-called Nigerian factor.
Furthermore, he claims that because there are inadequate or no roads, PMAN members are finding it extremely difficult to distribute their goods.
Babatunde disclosed that paint makers are shifting towards tangible innovations within research institutions, signaling the industry’s united pursuit of resilience and progress.
“The basic and rudimental role of the government is to promote technology and thus technological advancement is through school curriculum, while the bedrock of technology is science subjects and citizens must grab it at the start of learning,” he said.
The PMAN boss, who is optimistic about the industry future, revealed how they’re uniting forces to devise innovative solutions and adopting a collaborative approach within the paint manufacturing fraternity in repositioning the sector. He emphasised the need for collective action to overcome challenges being faced by the industry players.
Babatunde also gave insights on measures being taken that are leading to the exploration of creative approaches to address material scarcity, rising costs, and distribution obstacles.
He advocated educational reform to bolster indigenous expertise within the paint manufacturing sector. He also wants the reshaping of educational curricula to foster innovation, specifically tailored to paint manufacturing in the country.
