Unified forex rate, power reform will solve 45% of manufacturers problems – Expert

A manufacturer, Mr Christopher Enemuo, says that the policy on unified exchange rate and independent power generation has solved about 45 per cent of the problems faced by manufacturers in the country.

Enemuo told newsmen on Saturday in Awka, that the signing of the policies by President Bola Tinubu were steps towards meeting the needed target.

He however, said that more needed to done as Nigeria required more than unified exchange rate and independent power generation to move from a consuming to a producing nation.

Enemuo said that prioritising and appreciating the role of manufacturers would make
Nigeria become a producing nation with a prosperous economy.

“The present administration has made moves toward addressing some key issues which would go a long way to solve difficulties encountered by manufacturers in Nigeria.

“The unification of exchange rates and the independent power generation policies are two aspects propelled toward relieving about 45 per cent of manufacturers problems.

“To move from consumption to production, there is the need to make manufacturers priority citizens and access their intellectual values.

“Manufacturers need to be in a position of advantage in the course of their manufacturing activities and there is need for direct partnership between production industries and the government,” he said.

Enemuo urged the government to consider and ensure quick issuance of necessary documents such as licences and Certificate Of Occupancy for manufacturers.

He also called for health insurance for eligible manufacturers and direct access to government-subsidised funds, facilities and benefits.

“Other issues to be considered are quick judicial adjudication where a manufacturer is involved and fast tracking the clearing of industrial equipment and materials at the ports and berths.

“There is need for the federal government, through the Central Bank Of Nigeria and the Bank of Industries to meet the financial needs of the manufacturers too.

“All these will help us move from consumption to production nation, and there will be employment creation and economic growth, ” he said.