Manufacturers decry FX, electricity pricing challenges | The Guardian Nigeria News


As the Federal Government, in Abuja, harped on diversification of foreign exchange sources through export of manufacturing products yesterday investors in the country’s manufacturing value chain insisted that a mismatch in government policies as well as differences in electricity pricing across the country posed grave challenges for the sector.

Speaking at the opening ceremony of an exhibition on Made-in-Nigeria Products held in Abuja, the Minister of Industry, Trade and Investment, Niyi Adebayo, said the Federal Government was focusing on diversified foreign exchange revenue to address FX challenges for manufacturers.

The minister, who noted that the contribution of the manufacturing sector remained critical for the nation’s economy, stated there was a need to export finished products.

He disclosed that the African Continental Free Trade Agreement would leapfrog the country’s manufacturing activities, making it a leading playeron the continent.

“The whole idea is to…

Source: Guardian Newspaper

Get the Latest Business Tenders and Contracts Information