The Nation Newspaper Reversal of 43 prohibited items by CBN dangerous for economy, says MAN
Vice President of the Manufacturers Association of Nigeria , South-West Zone, Dr. Kamoru Yusuf, who is also the Chairman Basic Metal, Iron and Steel and Fabricated Metal Products said that Nigeria is at a very dangerous situation.
“Government needs to investigate and harvest the comprehensive list of the companies who registered under the free trade zone; including the claimed value of their investments. Steel sector plays similar role as that of Cement, Sugar, fertilizer and Petrochemical industries, all of which can provide the needed tripod-support for the development of other light industries in the country.
“The Federal Government should also borrow a leaf from other developed nations as well as some African countries by creating platforms for Credit Insurance Underwriters in order to reduce the huge risks involved in capital projects. Government also needs to create more funding windows and other support infrastructure to elicit rapid industrial development.
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