{"id":111773,"date":"2024-02-28T20:34:53","date_gmt":"2024-02-28T19:34:53","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/support-local-producers-to-grow-naira-manufacturers-to-fg"},"modified":"2024-02-28T22:46:19","modified_gmt":"2024-02-28T21:46:19","slug":"support-local-producers-to-grow-naira-manufacturers-to-fg","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/support-local-producers-to-grow-naira-manufacturers-to-fg","title":{"rendered":"Support local producers to grow naira \u2013 Manufacturers to FG"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>Manufacturers Association of Nigeria, MAN, has asked the Federal Government to support local producers to further strengthen the economy and make the county\u2019s currency to grow in the international market.<\/p>\n

This was as they lauded the President Bola Ahmed Tinubu\u2019s effort to boost production in the South East region of the country through the initiative called \u2018Light-up Nigeria\u2019 Project.<\/p>\n

Speaking in Enugu at the South East Business Roundtable during the flag-off of Light-up Nigeria Project \u2013 South East, Lady Ada Chukwudozie, Chairman of MAN in Enugu, Anambra and Ebonyi States, said the naira would greatly appreciate against foreign currencies and the economy would be stabilized if government at all levels patronised locally made products, to encourage local productions and stimulate productivity and employments among the youth.<\/p>\n

The Light-up project, which was launched by the Vice President, Senator Kashim Shettima, was one of the ongoing efforts of the Federal Government to improve energy supply to industrial clusters across the South East and the country at large.<\/p>\n

According to MAN, \u201cthe Federal Government can support locally produced goods and discourage overdependence on foreign products, by increasing the tariff on imported alternatives and provide manufacturers with incentives like, reducing customs tariffs on raw materials and machinery, as well as allowing them to access dollars for the implementation of raw materials, machineries and equipments.<\/p>\n

\u201cIf government can support manufacturers who are producing locally, support the use of locally produced goods and use the interplay of tax barriers and quotas to encourage these local manufacturers 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.<\/p>\n

\u201cOutside this, there is need for government to look into the tariff from Customs, especially as it concerns manufacturers.<\/p>\n

\u201cIf 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.<\/p>\n

\u201cI want to plead that manufacturers also be considered in a way that sourcing foreign exchange will come easy for them\u201d, Chukwudozie said.<\/p>\n

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 \u201ccommercial hub\u201d of the nation.<\/p>\n

\u201cNow, coming from the manufacturers, there are lots of challenges that bedevilled us and this issue of power is very critical and pivotal, because it is the energy that drives the Sector.<\/p>\n

\u201cAll the Governors have in the past, I must acknowledge, done something about this. It has also been said about the effort of our Governor, His Excellency, Governor Chukwuma Charles Soludo in partnership with EEDC, which is yielding fruits. And I think other Governors are doing something in that direction.<\/p>\n

\u201cBut this particular light-up Nigeria is like a renewed hope for us and we want to assure you that we are ready to collaborate with you in all ramifications\u201d, she added.<\/p>\n

On the ways of cushioning the effects of hardship and boosting food security, the manufacturers urged the Federal Government to provide farmers with adequate security, farming implements and improved seedlings, saying, food and commodity sufficiency would in turn support Industrialization for export, rural industries and resource-based industrialization.<\/p>\n

\u201cThis resource-based productivity, if government pays true attention to it, by, first of all, providing security for farmers to go to their farm lands, providing incentives for them, providing farming implements, then there will be enough production of food and commodity which will engender export oriented industrialization, rural industrialization, resource-based industrialization and import substitution industrialization\u201d, Chukwudozie stressed.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Manufacturers Association of Nigeria, MAN, has asked the Federal Government to support local producers to further strengthen the economy and make the county\u2019s currency to grow in the international market. This was as they lauded the President Bola Ahmed Tinubu\u2019s effort to boost production in the South East region of the country […]<\/p>\n","protected":false},"author":84,"featured_media":111772,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[1570,2140,701,569,254],"class_list":["post-111773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-nigeria-2","tag-fg","tag-manufacturers","tag-nigeria"],"yoast_head":"\nSupport local producers to grow naira \u2013 Manufacturers to FG - Nigeria<\/title>\n<meta name=\"description\" content=\"Manufacturers Association of Nigeria, MAN, has asked the Federal Government to support local producers to further streng ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/support-local-producers-to-grow-naira-manufacturers-to-fg\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Support local producers to grow naira \u2013 Manufacturers to FG\" \/>\n<meta property=\"og:description\" content=\"Manufacturers Association of Nigeria, MAN, has asked the Federal Government to support local producers to further streng ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/support-local-producers-to-grow-naira-manufacturers-to-fg\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-28T19:34:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-28T21:46:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/02\/sm_1709140374.063206.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1440\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/support-local-producers-to-grow-naira-manufacturers-to-fg#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/support-local-producers-to-grow-naira-manufacturers-to-fg\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Support local producers to grow naira \u2013 Manufacturers to FG\",\"datePublished\":\"2024-02-28T19:34:53+00:00\",\"dateModified\":\"2024-02-28T21:46:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/support-local-producers-to-grow-naira-manufacturers-to-fg\"},\"wordCount\":637,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/support-local-producers-to-grow-naira-manufacturers-to-fg#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/02\/sm_1709140374.063206.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"FG\",\"manufacturers\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/support-local-producers-to-grow-naira-manufacturers-to-fg#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/support-local-producers-to-grow-naira-manufacturers-to-fg\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/support-local-producers-to-grow-naira-manufacturers-to-fg\",\"name\":\"Support local producers to grow naira \u2013 Manufacturers to FG - 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