Economy and Business

Current economic situation is the toughest in history of Nigeria – Manufacturers lament

Odiri Erewa-Meggison, the chairman of the Export Promotion Group within the Manufacturers Association of Nigeria (MAN), has stated that the current period is the most challenging in the history of the manufacturing sector.

Nairametrics reports that Erewa-Meggison made the statement during the Annual General Meeting of MAN’s export division.

In her opening remarks, she highlighted the difficulties faced by exporters.

They include

High exchange rates

Elevated energy costs

Numerous taxes and levies

Port congestion

Persistent security concerns and

Infrastructural limitations

Her words: “You will agree with me that the choice of the theme for our AGM comes at the appropriate time considering the fact that the manufacturing sector is experiencing the toughest period in the history of its existence as a result of the prevailing economic situation in Nigeria.”

She also appealed to the Federal Government to reconsider the exclusion of 34 deserving exporters who were previously excluded from participating in the Promissory Notes Program by the 9th Assembly.

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