Speaking at Lagos House in Ikeja when he received a delegation from the Manufacturers Association of Nigeria, led by its President, Dr. Frank Udemba Jacobs, Ambode said the State requires about 720 million gallons of water per day, but currently has capacity to produce 210 million, leaving a deficit of about 500 million gallons
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The President of MAN, Frank Jacobs, told the News Agency of Nigeria in Lagos that the advice became necessary because the directive would help in strengthening the naira for production purposes
Frank Jacobs, the President of MAN, spoke in an interview with the News Agency of Nigeria in Lagos against the backdrop of the newly reduced import duties on 115 items by the Federal Government
The MAN Chairman, Wale Adegbite, told the News Agency of Nigeria, on Wednesday in Ota, Ogun State that the availability of foreign exchange would boost the productivity and enhance the economy
The MAN president also said that maintaining the present rate would prevent the manufacturing sector from coping with the current recession
NAN reports that the Monetary Policy Committee of the CBN would be having its two-day Monetary Policy Meeting on Monday in Abuja to decide on key economic policies in the country
According to him, Letters of Credit and Form Ms approved to manufacturers at N197/US$ before the introduction of new flexible exchange rate on June 20, are now expected to be redeemed at N320
Jacobs said government needed to take steps to shore up the manufacturing sector by ensuring that the concessionary Forex allocation to the sector was effectively implemented
Jacobs told the News Agency of Nigeria on Wednesday in Abuja that it was rather early to predict what the economic outlook of Nigeria would be in respect to the US election
He said that funds realised from the sales of the idle assets could be used to develop structures that would enhance the economy of the country
Martins said the bank would do everything possible to ensure that MAN members got the needed forex to buy raw materials for their production to revive the economy
Speaking at the inauguration ceremony, MAN’s President, Frank Udemba, said one of the most crucial tasks before the Large Corporation Group is the facilitation effective linkage between small/medium scale industries and large scale industries in the production and supply value chain
Saraki, while responding to a request by the Tomato Sub-Sectoral Group of the Manufacturers Association of Nigeria seeking his intervention to lift the exemption by the CBN on certain imported goods, said based on the present economic realities, difficult decisions are necessary be taken to overcome the challenges
According to Nze, the pump price reduction is necessary following the dwindling price of crude oil at the international market
In a statement by the Public Relations Manager, Victoria Anioke, MAN said Ogunmefun replaced Rasheed Adegbenro, who had been acting in that capacity since April, 2013