Ogun; MAN urges FG to provide adequate foreign exchange to boost production – Businessday

The Manufacturers Association of Nigeria (MAN), Ogun Chapter, has urged the Federal Government to provide adequate foreign exchange for the real sector, to boost production in 2017.

The MAN Chairman, Wale Adegbite, told the News Agency of Nigeria (NAN), on Wednesday in Ota, Ogun, that the availability of foreign exchange would boost the productivity and enhance the economy.

According to him, the real sector is facing numerous challenges such like lack of sufficient dollar, higher interest rate and poor infrastructure that had hindered them from producing at the optimal level.

Adegbite explained that instability of Naira and dollar was affecting most of manufacturers from importing raw materials and machinery into the country.

”The ability of the Federal Government to provide adequate foreign exchange for manufacturers in 2017 would help the sector to produce at the optimal level,” he said.

“This would create job opportunities for the unemployed youths and boost the nation’s Gross Domestic Product (GDP),” he said.

Adegbite, however, advised the Federal Government to also ensure lower interest rate as well as provision of infrastructure, especially roads network to enhance productivity of the real sector in 2017.