MAN Says 50% Of Biscuit Manufacturers Crashed In 30yrs.

Manufacturers Association of Nigeria says Biscuit and Bakery Products, which is a sub-sector crashed out in the last three decades.

Chairman of the sub-sector, Fola Osibo, who disclosed this during the group’s annual general meeting held in Lagos said, over the years, biscuit manufacturing in Nigeria has gone through challenging periods, some of which have threatened the continued existence of local manufacturers in the country.

He said, the problems ranged from strangulating policies, to uncontrolled raw material costs and availability, and unfair competition with mostly cheap foreign biscuits imported into the market.

He also called on the Federal Government to initiate responsive and local production-friendly policies to save the sector and prevent it from completely collapsing.

In his presentation, the Plant Director, Cadbury Nigeria Plc, Akinwande Owen, outlined fluctuation in foreign exchange rate, low consumer purchasing power, talent development and migration/relocation, multiple taxation, and government policies as the key challenges facing the manufacturing industry.