The Nigerian Institution of Mechanical Engineers (NIMechE) has called on government and other relevant stakeholders to improve funding and financial support for engineering projects and the manufacturing sector of the economy.

The National Chairman, Mrs. Funmilade Akingbagbohun, made the call at the institution's 36th international conference and yearly general meeting, entitled: “The Role of Mechanical Engineering and Supportive Finance in Achieving Growth in the Manufacturing Sector” in Ilorin, Kwara State.

The forum provides a unique platform for the mechanical engineers and stakeholders in engineering, and policy makers to reflect on topical issues impacting practice and contribution of engineering personnel to national development.

She explained that mechanical engineering as a field, involves the design, development, maintenance of machinery and mechanical systems, which requires huge funding to fulfill its mandates to society, saying that if Nigeria continues to invest in its mechanical engineering industry; the country will see further economic advancement and technological progress.

Akingbagbohun said: “Nigeria's economy is the largest in Africa and is heavily dependent on industries such as oil and gas, agriculture and manufacturing. In review, mechanical engineering significantly impacts Nigeria's economy through its contributions to the manufacturing, energy, and construction sectors. Mechanical engineering plays a vital role in the manufacturing sector, where machinery and equipment are designed and developed for production processes.

“The manufacturing sector heavily relies on mechanical engineering expertise for efficient production. Automation, robotics and advanced machinery are designed and implemented by mechanical engineers to increase productivity and enhance product quality. This leads to job creation, increased revenue and overall economic growth.

“Nigeria's mechanical engineering sector attracts Foreign Direct Investments (FDI). International companies recognise the potential for growth in Nigeria's infrastructure development and manufacturing industries. These investments bring capital, technology transfer and job opportunities, further enhancing the economy.”

According to her, manufacturing contributes about 17 per cent of the world's $70 trillion economy and accounts for over 70 per cent of global trade with a huge impact on national security and defence.

However, she said there is a need to promote key manufacturing sectors as technology drivers of the economy.

Akingbagbohun urged governments at federal and state levels to strengthen the manufacturing sector, which is a potential employer of labour.

“Addressing the challenges of the manufacturing sector require multi-pronged approaches, one of these challenges is funding and finance. Whether it is at the starting stage, operational or expansion stage, the manufacturing sector is capital intensive and requires funding support at every critical stage,” she said.