The Manufacturers Association of Nigeria has urged the Central Bank of Nigeria to adopt an effective monetary system in order to reverse the country’s dismal economic state caused by the naira swap.
The head of the association, Francise Meshioye, made this call on Tuesday at the annual MAN reporter of the year award.
He stated that MAN is concerned about and committed to maintaining a conducive environment for manufacturing businesses to grow and create economic opportunities for the country’s unemployed youths.
“If CBN needs to release adequate monies in circulation, they need to establish an effective monetary scheme or structure to ensure that,” Meshioye added. There will be no stockpiling if this is done. If money are released, they must be closely watched.”
He disclosed MAN had interactions with the presidential candidates on issues bothering it.
“We have engaged the presidential aspirants on the importance of having a virile and competitive manufacturing sector.
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“We have equally pushed at different fora with major political contenders to incorporate the need to accelerate the growth and development of the manufacturing sector in their economic agenda.”
“In this regard, we have availed all the political parties with our Blueprint for the Accelerated Development of Manufacturing in Nigeria as well as the agenda for manufacturing in Nigeria for the next 10 years,” he said
In his reaction to the 10-day extension for the naira swap, he said the judiciary already pronounced judgement, which no other can reverse.
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