Unified exchange rate, independent power good for manufacturers but more needed – Expert
A Manufacturer, Mr Christopher Enemuo, says the policy on the unified exchange rate and independent power generation will solve about 45 percent of the problems facing manufacturers in Nigeria but more needs to be done.
Enemuo said on Saturday in Awka that the signing of the policies by President Bola Tinubu were steps toward meeting the needed targets.
Enemuo, however, said there was a need to do more as Nigeria required more than unified exchange rate and independent power generation to move from a consuming to a producing nation.
The manufacturer said that prioritising and appreciating the role of manufacturers would make Nigeria become a producing nation with a prosperous economy.
“The present administration has made moves toward addressing some key issues which would go a long way to solving difficulties encountered by manufacturers in Nigeria.
“The unification of exchange rates and the independent power generation policies are two aspects propelled toward relieving about 45 percent of manufacturers’ problems.
“Manufacturers need to be in a position of advantage in the course of their activities and there is need for direct partnership between production industries and the government,” he said.
Enemuo urged the government to consider and ensure quick issuance of necessary documents such as licences and Certificate of Occupancy for manufacturers.
He also called for health insurance for eligible manufacturers and direct access to government-subsidised funds, facilities and benefits.
“Other issues to be considered are judicial adjudication where a manufacturer is involved and fast-tracking the clearing of industrial equipment and materials at the ports and berths.
“There is need for the Federal Government, through the Central Bank of Nigeria (CBN) and the Bank of Industries to meet the financial needs of the manufacturers too, ” he said.
Enemuo said these will help Nigeria move from a consumption to production nation; “and there will be employment creation and economic growth,” he said.
