CEOs urge FG to declare emergency in manufacturing sector

Chief executives officers of manufacturing industries across the country have called on the Federal Government to declare a state of emergency in the nation’s manufacturing sector due to its lacklustr

e performance in the first quarter.

The MCCI was created by the MAN as a quarterly instrument for measuring changes in macroeconomic trends and operating environment, among others, and their effects on the manufacturing sector. They urged the government to develop a stimulus package to rescue the sector from collapse after having studied the peculiarities, suggesting that it could offer to pay 60 per cent of manufacturing concerns’ staff salaries for upward of three months.

“It should establish a special bailout fund for the manufacturing sector with set deliverables on the number of jobs to be created, the volume of export, quantum of locally raw materials utilised and projected revenue.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

MobilePunch /  🏆 8. in NG

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Publish budget for ‘home feeding programme’, SERAP tells FG
Read more »

SERAP asks FG to publish details of home feeding programmeSocio-Economic Rights and Accountability Project (SERAP) has called on the Federal Government, (FG) to publish details of the suppliers...
Read more »

FG begins home feeding for schoolchildren this week
Read more »

National carrier project on course despite COVID-19, says FG
Read more »

COVID-19: FG to consider other ‘inconvenient’ options for isolation – Daily TrustThe Federal Government has raised the alarm that the rising number of COVID-19 cases is outweighing the capacities of the isolation centres across the country. The Director General of the Nigeria Centre for Disease Control (NCDC), Dr. Chikwe Ihekweazu, said this on Friday in Abuja, at the 28th joint national briefing of the Presidential Task …
Read more »

FG slashes interest rate on loans automotive industry – Daily TrustThe Federal Government has through the National Automotive Design and Development Council (NADDC), rolled out a stimulus package for the local automotive industry to cushion the effect of the COVID-19 pandemic on the auto industry. The Director-General of NADDC, Jelani Aliyu, said the council had secured approval from the Bank of Industry (BOI) to reduce …
Read more »