The Federal Government has said it will begin steps towards creating a separate and special foreign exchange window for exporting manufacturers.
He said, “MANEG is a formidable group. Write to me. I will see how I can use that as reference to engage the CBN. As you know, the CBN is a monster of its own.
“”I like the idea that you came up with, having a different window for manufacturers. The president just set up an economic team, and we have been meeting. Write to me, and we will see what we can do.” In recent years, the acute shortage of foreign exchange in Nigeria has constituted a major operational nightmare facing manufacturers in the country.
Manufacturers have lamented acute shortage of FX amid lack of locally available raw materials and machinery. In its most recent Manufacturers CEO’s Confidence Index, MAN said its members had resorted to survival measures amid a worsening business climate.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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