The Manufacturers Association of Nigeria (MAN) has tasked the federal government with providing export incentives for the manufacturing sector to solve the lingering foreign exchange crisis.
According to the News Agency of Nigeria (NAN), Dr Wale Adegbite, the chairman of the Ogun State chapter of MAN, made the call on Sunday.
Adegbite was reacting to the continued drop in the naira against the Dollar at the forex market.
As of Friday, the Naira exchanged hands at N945 per $1 in the parallel market, while it traded at N782 per $1 on the official window.
Adegbite opined that government must stimulate the manufacturing sector through lower taxes, cheaper loans, a stable power supply, and efficient policies to boost exports.
“The country needs to export more goods to generate more forex, which would reduce pressure on Nigeria’s currency,” he said.
