Abuja: The Manufacturers Association of Nigeria, Ogun branch, on Thursday elected Mr. Martins Awofisayo, Managing Director of Harvestfield Industries Ltd., as its new chairman. Awofisayo takes over from the outgoing chairman, Mr. George Onafowokan, Managing Director of Coleman Technical Industries Ltd., after the association’s 41st Annual General Meeting (AGM) held in Abeokuta.
According to News Agency of Nigeria, in his valedictory address, Onafowokan highlighted the branch’s notable growth during his four-year tenure, marked by increased membership, improved subscription collections, stronger advocacy, and enhanced stakeholder engagement. Membership rose from about 290 companies to over 360, with the branch consistently achieving more than 100 percent annual subscription collection, reflecting members’ confidence and commitment to the association.
Onafowokan remarked on the significance of his role, stating, “As I stand before you today, this 41st Annual General Meeting marks the conclusion of my tenure as Chairman of the Manufacturers Association of Nigeria, Ogun State Branch. I’ve had the rare privilege of serving this great branch for four eventful and fulfilling years.” He attributed the branch’s achievements to the collective efforts of the executive committee, branch council, past chairmen, and members, expressing gratitude for their support and cooperation.
In his acceptance speech, Awofisayo committed to building on the accomplishments of the outgoing administration and fostering a more conducive business environment for manufacturers in Ogun State. “We will make Ogun comfortable for all the members and I will build on the legacy of Onafowokan,” he declared, while also expressing his intention to work closely with past chairmen to benefit from their experience and guidance.
Earlier, Onafowokan raised concerns about the challenging operating environment facing manufacturers, citing high energy costs, inflation, foreign exchange volatility, multiple taxation, and limited access to affordable financing. He noted that Nigeria’s economy recorded modest growth of between 3.0 and 3.2 percent in 2025, with the manufacturing sector contributing about 12 to 13 percent of the Gross Domestic Product (GDP) and capacity utilization averaging between 55 and 60 percent.
Onafowokan elaborated on the economic challenges, highlighting that Naira depreciation, rising energy costs, inflation, foreign exchange constraints, and high logistics expenses have increased production costs and reduced profitability, leading many manufacturers to suspend expansion plans. He stressed that headline inflation averaged between 30 and 32 percent, while commercial lending rates of between 28 and 35 percent further constrained access to affordable financing.
Manufacturers in Ogun state also face multiple taxation, overlapping regulations, infrastructure deficits, rising compliance costs, and security concerns in some industrial clusters. Onafowokan urged the government at all levels to improve access to finance, strengthen infrastructure, simplify tax administration, and provide an enabling environment to unlock the full potential of Nigeria’s manufacturing sector.