February 22, 2024
FG Should Reduce Number Of BDCs And Prioritise Forex Allocation
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FG Should Reduce Number Of BDCs And Prioritise Forex Allocation

The Manufacturers Association of Nigeria (MAN) has charged the Federal Government to set lower and upper limits in the management of the foreign exchange rate, and reduce the numbers of Bureau De Change as part of measures to boost the performance of the manufacturing sector in particular, and the economy in general over the next one year.

The Director General of MAN, Segun Ajayi-Kadir, who made the recommendation, also added that the government should prioritise forex and credit allocation to manufacturers, and drive the patronage of made-in-Nigeria products.

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According to Mr. Ajayi-Kadir, the manufacturing sector is expected to experience a tough start in the first half of the year, in line with the state of manufacturing globally, which is struggling with key macroeconomic variables and externalities, leading to dwindling growth. He however projected that the second half of the year will see some measured improvements.

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