Coleman MD optimistic about manufacturing sector’s future
George Onafowokan, Managing Director of Coleman Technical Industries Limited, has expressed confidence in the manufacturing sector's outlook. He believes that recent macroeconomic stability and policy reforms could drive significant growth. Onafowokan highlighted the importance of government action on pending fiscal measures and improved communication about new tax laws. He remains hopeful that manufacturers will soon see the tangible benefits of ongoing reforms.
TLDR
- George Onafowokan projects sustained manufacturing growth in 2026, citing a stable naira and declining inflation.
- He describes 2025 as a recovery period for the industry, despite earlier challenges.
- The 2026 budget’s focus on capital expenditure, infrastructure, and security is seen as a key driver for growth.
- Onafowokan urges the government to clarify new tax laws set for January 2026 to prevent market confusion.
- He believes aligning fiscal policies with macroeconomic stability will help manufacturers serve both domestic and sub-Saharan African markets.
