The President of the Manufacturers Association of Nigeria, MAN, Francis Meshioye, has said President Bola Ahmed Tinubu's policies in the last twelve months have made manufacturing businesses unattractive in Nigeria. Meshioye disclosed this on Thursday in an interview with Channels Television, monitored by DAILY POST.
The President of the Manufacturers Association of Nigeria, MAN, Francis Meshioye , has said President Bola Ahmed Tinubu 's policies in the last twelve months have made manufacturing businesses unattractive in Nigeria. Meshioye disclosed this on Thursday in an interview with Channels Television, monitored by DAILY POST. According to him, manufacturers are worse hit by fuel subsidy removal, Naira devaluation, recent electricity tariff hikes, and interest rate hikes in Nigeria.
25 percent in May 2024, is a major hindrance to businesses in the country. 'Major contributors to Nigeria's rising inflation are food and energy. For instance, a tuber of yam showed that Nigerians can no longer afford it. The price moved from about N1000 to N3000. If you look at the electricity tariff cost, it moved from N66 per Kilowatt-hour to N209. If you look at the percentage increase, you discover that the country's inflation rise is not marginal.
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