The Managing Director of Coleman Wires, George Onafowokan, announces plans by foreign investors to invest in the country. The director revealed this at the 2025 Business Day conference held in Lagos on Thursday.
The Coleman executive, urged Nigerian manufacturers to focus on the country’s potential rather than the country’s challenges. He also encouraged Nigerians to stop compromising the country’s future for immediate foreign selections.
Onafowokan adds that local manufacturers need to be deliberate to tap into the country’s full potential.
According to him, many of the applications signed by him as the chairman, are from foreign companies settling up in Nigeria.
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He continued that, as harmful as multiple taxation is, it doesn’t stop foreign investors from investing in the country. However, the C.E.O. acknowledges the quality of Nigerian products, crediting Coleman Cables for its high-quality products.
Also, the founder of zetamind limited, Adetunji Aderinto, present at the conference, emphasized manufacturing in the country. The chairman expressed that foreign investors make use of opportunities overlooked by Nigerian manufacturers.
He also advises Nigerian manufacturers to make good use of technology and data to cut costs and improve commercial intelligence. The company’s founding figure emphasizes that local manufacturers need to increase their market share and strengthen their supply chains.
Meanwhile, the Director General of the Manufacturers Association of Nigeria (MAN) urges the federal government to prioritize development projects. Segun Kadir, while delivering the keynote address of the conference call on the government to implement strong policy frameworks.
According to him, the government is responsible for creating an enabling environment for local manufacturers’ growth. He adds that strategic action, including infrastructure, is needed to unlock Nigeria’s true potential in the manufacturing sector.
