The Institute of Public Analysts of Nigeria (IPAN) has attributed the low trade rate in Nigeria to the shortage of laboratories which would aid the manufacturing sector.

The institute, whose members are professionals trained, registered and authorized to carry out laboratory analysis on consumer and health-related products, noted that many countries are ahead of Nigeria in terms of manufacturing.

National President of the institute, Dr. Dahiru Adamu, who briefed newsmen on the 21st Mandatory Training Workshop tagged, "Your Laboratory, your Busines" holding in Ilorin, the Kwara State capital, lamented that Nigeria which is the greatest economy in Africa can only boast of two accredited laboratories.

He said South Africa has 340 labs; United States has 19, 000; South Korea 7000; while China has 337, 033 accredited laboratories, giving the country edge over its peers in Europe.

Adamu explained that China had been able to penetrate all parts of the world because of the quality of its products, adding that most European products are made in China.

He noted that Nigeria should have "a large, significant number of independent laboratories that can aid the development of this country."

According to him, Nigeria should prioritize the manufacturing sector to address youth unemployment. He stressed that encouragement of independent laboratories would boost trade in Nigeria and bring the country at par with other developed nations.