Wednesday

FG promises reduction in Forex rates.

Image result for FG promises reduction in Forex rates.
Vice president, Professor Yemi Osibajo has assured
manufacturers of government's assistance in  president resolving the issue of  forex grants to  subsidize their businesses.
He gave this assurance during a call for the diversification of the nation economic borne out of
the zeal to encourage local manufacturers to compete
favourably with their foreign  counterpart.

The vice president notes with hope that the current economic crisis would be tackled head long, if the
country's manufacturing sector is revamped.
Addressing the manufacturers at the Habour industrial
layout in Onitsha, vice president Osibajor assured that federal
government is ready to provide foreign exchange at a
reduced rate to boost local production.
He says President Muhammadu Buhari has mapped
out plans geared towards revamping the nation’s
manufacturing sector because it competes favourably in terms of
standard with its counterpart the  world over.
Narrating the challenges faced in achieving the desired goals in the manufacture goods at affordable prices, the manufactures express worry over the uncontrollable rate the foreign exchange which has a resultant effect on their cost of
production. 
Foreign exchange rates have hampered not just the manufacturing sector, but many other sectors of the Nigerian economy, if government's promise is anything to go by, then Nigerians can begin to anticipate a change in the local production of good in the country.
Bamidele Ajayi. CORE TV. Awka. Anambra State
-

Related Post