Business
MAN Urges FG To Develop Infrastructure
The Manufacturers Association of Nigeria (MAN), has requested the Federal Government to enforce significant improvement on the present state of existing infrastructure across the country.
This was stated on Monday in Lagos by the President of MAN, Chief Frank Jacobs, while speaking on 2017 MAN focus.
Jacobs stressed that MAN in consonant with its mandate would pursue some strategic issues through the association’s advocacy radar to ensure that government improves the state of infrastructure in the country in the areas of power generation, distribution and transportation.
He said that the association would continue to support the Bank of Industry (BoI) alongside the newly established Development Bank of Nigeria (DBN), stressing that BoI needed to be re-capitalised to meet its challenges.
The MAN boss explained that another development bank would help in augmenting activities of BoI through competition among them and gives alternative option to the manufacturers.
He said that the association has appealed to the Central Bank of Nigeria (CBN) to give approval for the allocation of at least 60 per cent of available foreign exchange to manufacturers and refcus government’s attention on resource-based industrialisation.
He added that the association has advised the Federal Government not to sign the ECOWAS-EU Economic Partnership Agreement (EPA) in its current forms until review, and urged the government to rather review the Export Expansion Grant (EEG) presently in a moribund state.
Jacobs said that the association is periodically engaging government to improve budgetary allocation for the upgrade of critical infrastructure in the country.