The Central Bank of Nigeria’s procedures for awarding foreign cash, according to the Manufacturers Association of Nigeria, have put its members in a precarious position.
The group claimed that problems with currency storage and other problems were making the manufacturing industry a threatened industry.
Ajayi-Kadir, who emphasized the significance of forex, claimed that the industrial sector had suffered the most from the government’s wrong priorities in terms of the distribution of foreign exchange.
The MAN DG argued that increasing local manufacturing of commodities that can be produced domestically is the only option for Nigeria to escape the current forex problem. He requested that the government prioritize the productive sector by supporting activities in the country.