The Manufacturers Association of Nigeria (MAN) has called on the Federal Government and the National Assembly to urgently intervene in the ongoing US-Israel-Iran conflict as its economic shrapnel threatens to strike the heart of the Nigerian economy through disruptions to global shipping routes, volatile energy markets and supply chain.

Specifically, MAN said that the US-Israel-Iran conflict is a stark reminder of Nigeria’s vulnerability to external shocks, saying that as long as Nigeria’s manufacturing base remains heavily reliant on imported raw materials, it cannot control the geopolitics of the Gulf.

With this, MAN explained that time has come for proactive manufacturing fortification as the sector cannot thread the failed path of early 2000s, where many local manufacturers squandered an oil boom ‘while our factories collapsed.’

Speaking on the position of MAN on the implications of the US-Iranian crisis in a press release in Lagos, yesterday, its Director-General, Mr. Segun Ajayi-Kadir said that the association has closely monitored the recent escalation of military confrontation involving the United States, Israel and Iran, saying that the conflict has undeniable sent shockwaves across the global macroeconomic landscape.