Encourage Regional Farmers To Increase Naira – Manufacturers to FG

The Nigerian Manufacturers Association, or MAN, has requested that the Federal Government assist local producers in order to bolster the nation’s economy and increase its value on the global stage.

This came as they applauded President Bola Ahmed Tinubu’s efforts to increase output in the nation’s Southeast through the “Light-up Nigeria” Project.

Speaking at the South East Business Roundtable in Enugu during the launch of the Light-up Nigeria Project – South East, Lady Ada Chukwudozie, Chairman of MAN in Enugu, Anambra, and Ebonyi States, stated that if government at all levels supported locally made products, to encourage local productions and stimulate productivity and employment among the youth, the naira would greatly appreciate against foreign currencies and the economy would be stabilized.

Senator Kashim Shettima, the Vice President, introduced the Light-up project, which was one of the Federal Government’s continuous initiatives to enhance the energy supply to industrial clusters throughout the South East and the nation.

MAN states that “by raising the tariff on imported alternatives and offering manufacturers incentives like lowering customs tariffs on raw materials and machinery, as well as allowing them to access dollars for the implementation of raw materials, machinery, and equipments, the Federal Government can support locally produced goods and discourage overdependence on foreign products.” “If the government is able to assist local producers,promote the consumption of goods made locally, and utilize the interaction of tax breaks and quotas to support these local producers,

who are currently producing and support locally produced goods, for example those currently producing motor vehicles, if Nigeria can support them and other local producers, I think it will go a long way.

“Outside this, there is need for government to look into the tariff from Customs, especially as it concerns manufacturers.

“If it is possible, give us an incentive that is exclusive to manufacturers, so that our raw materials and machines can come in at a reduced duty. So this alone can also help engender productivity in the country.
“I want to plead that manufacturers also be considered in a way that sourcing foreign exchange will come easy for them”, Chukwudozie said.

The manufacturers expressed optimism that the Light-up South East Project would go a long way in reducing some of the challenges facing the sector in the region, described as the “commercial hub” of the nation.

As the manufacturers, we face numerous difficulties, and the matter of power is one of the most important and crucial since energy is what powers the sector.I have to admit that all of the governors have taken action in the past regarding this. It has also been mentioned that the work that our governor, His Excellency, Governor Chukwuma Charles Soludo, is doing in conjunction with EEDC is paying off. Furthermore, I believe that other governors are taking some action in that regard. “However, we feel like we have new hope because of this light-up Nigeria, and we want to reassure you that we are prepared to work with you in any capacity,” she continued.

In order to mitigate the effects of adversity and increase food security, the manufacturers urged the federal government to give farmers improved seedlings, farming implements, and adequate security.

They claimed that ensuring farmers had enough food and commodities would also support resource-based industrialization, rural industries, and export-oriented industrialization.

“This resource-based productivity will lead to enough food and commodity production, which will engender export-oriented industrialization, rural industrialization, resource-based industrialization, and import substitution industrialization if the government pays true attention to it by, first of all, providing security for farmers to go to their farm lands, providing incentives for them, and providing farming implements,” Chukwudozie emphasized.