By 
An Industrialist, Mr. Damilola Shittu, has called on the Federal government to control the rate at which finished goods are being imported to the country and give support to local manufacturers to export.
Shittu, the Chief Executive Director of Dele Group, a manufacturer of medical devices and pharmaceutical products, made the call during an interview with newsmen on the sideline of the 9th Annual General Meeting of the Manufacturers Association of Nigeria (MAN) Kwara/Kogi branch held in Ilorin Kwara State.
“We all know that foreign exchange is earned by the exportation of products. The government needs to encourage and support local companies to export, so that we can have more forex earnings and also make the importation of finished goods into the country less. This would address the issue of forex and improve our economy.”
He also called on Nigerians to patronize local products, adding that the products are safe for use, noting that there are regulatory agencies strictly enforcing quality standards on manufacturers.
”You may not be very sure if those goods you are importing from other countries have been thoroughly examined and are safe for use but the ones produced here in Nigeria cannot escape it because the regulating agencies will not even leave you alone. You must ensure that you put our citizens’ lives first before profit.”
He also charged the government on policy harmonization, saying “The government is not properly harmonizing it’s policy to favour the environment. For example, look at the issue of fuel subsidy, foreign exchange, inflation, insecurity.”
Similarly, he called on the government to look into illegal and controversial taxes and levies, saying that multiple taxes should be harmonized at all three levels of government to ease the burden of business owners.
He however urged the Central Bank of Nigeria (CBN) to give directives to Commercial Banks to reduce interest rates on Industrial Loans and widen the window of Foreign Exchange (FX) to local industries.
Comments