Sango-Ota (Ogun), Aug. 14, 2023: Dr Wale Adegbite, ex-Chairman of Ogun Manufacturers Association of Nigeria (MAN), has appealed to the Federal Government to give more incentives manufacturers to boost exportation.
Adegbite made the appeal on Sunday in Ota, Ogun where he spoke against the backdrop of Nigeria’s currency approaching N1000 to a dollar at the Black Market.
He said this would allow manufacturers to improve productivity and reduce the cost of production.
The ex-MAN chairman noted that the demand for dollars outweighed the supply for naira because the country was an import dependent nation.
“The Federal Government needs to stimulate the manufacturing sector through such incentives like lower taxes, cheaper loans and formulating policies, stable power supply among others, which would help them to produce at optimal level for export.
“In addition, the country needs to export more goods to generate more forex which would reduce pressure on Nigeria’s currency.” he said.
Adegbite said that the manufacturing sector played a pivotal role both in Gross Domestic Product (GDP) and generation of employment opportunities in the country.
