President Muhammadu Buhari has assured manufacturers in the country that the federal government would take appropriate measures to improve access to foreign exchange for importation of raw materials and machines that are not readily available locally.
President Buhari gave the assurance, in response to a request by the
leadership of the Manufacturers Association of Nigeria MAN.
MAN had, during an advocacy visit to State House, Abuja, appealed to
the government to take steps to ensure that the real sector contributed
more to the Nigerian economy.
In a similar vein, the Nigerian Association Chamber of Commerce,
Industry, Mines and Agriculture NACCIMA, and some experts blamed
the rising volume of Nigeria’s trade deficit on the inability of the
government to enforce its policy on consumption of locally
manufactured goods.
President Buhari told the MAN executive that the relevant ministry
would revisit their concerns about the increase in excise duties on some
identified products and other tariff-related matters.
