Members of the Manufacturers Association of Nigeria on Wednesday got a presidential promise that access to foreign exchange will be improved to help them overcome importation challenges they face.
President Muhammadu Buhari made the promise when the leadership of the MAN paid him a visit at the State House in Abuja.
Nigeria’s manufacturing sector has been faced with a myriad of constraints, including inadequate foreign exchange with which to import critically needed raw material and machinery for the local manufacturers.
This was disclosed in a statement issued by Buhari’s Special Adviser on Media and Publicity, Femi Adesina, with the title ‘President Buhari
‘‘Our strategic plan to boost manufacturing activities in the country is on course,” he told the industrialists.
He assured them that the government would continue to improve the patronage of locally made goods, bridge the gap between skills required by industry and those provided by our tertiary institutions and ensure seamless access to long-term finance for our Small and Medium-Scale Enterprises.
‘‘We recognize that MAN remains a key stakeholder in this journey and we will continue our engagement with you,’’ the president told them.
According to the president, the way to the creation of jobs is through a private sector-led economy.
President Buhari informed the business leaders that even with limited resources the government the government has achieved some success in the provision of roads and railways and other infrastructure development, including energy.
‘‘These projects are there for all to see. Furthermore, we are vigorously pursuing reforms on ease of doing business and currently putting in place other necessary policy measures and incentives that will guarantee full recovery from the consequences of COVID-19, sustain economic development and further shield the economy from the potential impact of fluctuations in the price of crude oil in the global market.
‘‘I have listened carefully to all the challenges enumerated by the President of MAN and would like to assure you that, as we have done in the recent past, we will consider some of the constraints that are yet to be fully addressed, especially those that align with our policies and programmes for economic recovery and sustainable development.
‘‘Let me assure you that this Administration is fully aware that the survival of Nigeria lies in Agriculture and having a viable domestic manufacturing sector…when I say Agriculture, I also refer to Agro-Allied business which is the value-added component in the value chain.
‘‘A strong manufacturing sector creates more jobs and wealth for our people,’’ Buhari said.
