Manufacturers to benefit from FG’s economic recovery plan — MAN

The Manufacturers Association of Nigeria, South West Zone, says its members stand to benefit immensely from the Economic Recovery Growth Plan of the Federal Government.
The Chairman of the association, Chief Kola Akosile, made this known in an interview with the News Agency of Nigeria in Ibadan on Tuesday, while speaking on the activities of the organization in 2018.
Akosile said: “By and large i think we are beginning to see some good indices; foreign exchange has been stable, i think by and large the manufacturers are a bit happy but we want to be happier with the situation.
“The ERGP is just at the initial stage so the effect has not been felt; the major component is agribusiness and solid minerals.
“It is going to affect us in terms of our ability to source local raw materials so by the time this is implemented in its fullness i think it will have seasonal effect on manufacturers, more so it will reduce pressure on the foreign exchange so the rate will be stabilized also I think at the end of the day the ERGP will be good for us.”
According to the chairman, the organization is a very active member of the Organized Private Sector in the creation of employment.
He said: “The first half of the year has been generally okay except for issues like the free trade zone.
“MAN does not want Nigeria to be a dumping ground; we expect that there are going to be some precautions that will be put in place before Nigeria finally signs.
“While some members of the association have been okay, others in different industries are not; in some states we have elections which had affected some of our activities like in Ekiti State.”