Notwithstanding the challenges experienced by local producers, Paint Manufacturers Association of Nigeria (PMA) have concluded plans to showcase the sector’s capacity and potential at this year’s raw materials/equipment and paints fair.
Indeed, the local producers decried the impact of multiple taxes which they said are killing businesses in the country, warning that more manufacturing companies are on the verge of collapse.
Chairman of the Association, Ambolu Babatunde, made the remark during a press conference to announce the association’s Coatings show 2022, themed: “Maximising The Opportunities of the African Continental Free Trade Area (AfCFTA) in Covid Era.”
Babatunde noted that the PMA show which is the seventh edition of the association’s biannual Raw Materials/Equipment and Paints fair will hold from October 24 to 25 at 10 am, where various raw materials, machinery, production and testing equipment, including packaging materials used in the production of paints, inks and allied products will be showcased.
He disclosed that the event, which will hold in Ikeja, Lagos, is the only dedicated coatings event for West Africa, adding that the two-day event could not hold in 2021 as previously scheduled due to distortions caused by the COVID-19 pandemic, which disrupted global economic and travel activities for two years.
Babatunde explained that made-in-Nigeria paints will be displayed at the event, which major goal is to provide a platform for suppliers of paints, raw materials and manufacturers of paints in the country and other West African countries as well as other stakeholders/professionals to exchange ideas on current developments on coatings raw materials, equipment and technology.
Managing Director, Voda Paint Nigeria and member of MAN, Rotimi Aluka, advised the public not to patronise paint companies that were not certified by NAFDAC, adding that the association was working closely with regulatory agencies to maintain standards in the sector.
He bemoaned the cost of doing business in the country, urging the government to support manufacturers. “The harsh business environment is a threat to businesses in Nigeria in terms of AfCFTA. It will make our products uncompetitive.”
“Further taxes are not helping the business community, it continues to make Nigerian products uncompetitive. Multiple taxes are killing businesses. It’s easier to do business in other west African countries than in Nigeria.
“The cost of doing business, which has to do with supervisory, registration, regulation, and multiple agencies is so high and needs to be addressed. Government has to support businesses so that the country does not become a dumping ground; which will increase unemployment and affect the economy negatively.
