Nation
MAN Seeks End To Forex, Energy Crisis
The Manufacturers Association of Nigeria (MAN) has tasked the Federal Government and monetary authorities to address the foreign exchange and energy crises responsible for the unfavourable movements in manufacturing indicators.
Director-General, MAN, Mr Segun Ajayi-Kadir, made the call at the Commerce and Industry Correspondent Association of Nigeria (CICAN) workshop and recognition of individuals and firms held recently in Lagos.
The Tide’s source, reports that the event had as its theme: “Manufacturing: Despite FX and Energy Crisis”.
Ajayi-Kadir said the frontline challenges of inadequate foreign exchange and energy crisis dipped the manufacturing growth output from 5.8 per cent in the first quarter of 2022 to 3.0 per cent in the second quarter.
He said these challenges massively affected manufacturers that were already confronted by inclement operating environment, compounded by the COVID-19 pandemic and the current Russian-Ukrainian war.
According to him, manufacturing indicators such as capacity utilisation, contribution to real Gross Domestic Product (GDP) investment, employment, cost of production, competitiveness among others were also negatively impacted.
He noted that increase in cost of energy pushed up global inflation which affected the cost of importation across the world, including Nigeria.
He added that with the limited foreign exchange inflow from crude oil sales, foreign exchange demand pushed over the bounds of supply and contributed to the depreciation in Naira value.
The MAN DG stressed that the challenges must be adequately addressed to arrest further degeneration in the performance of the sector.
“In doing that, we consider the following measure critical such as the allocation of significant proportion of available foreign exchange to the productive sector, particularly manufacturing.
“Further investment in the electricity value chain must be carried out and government must commit to adding 10,000 MW to the current electricity distributed in the country.
“Also, we must embrace and support significant development of renewable energy mix as the country has huge potentials for solar and wind,” he said.
Ajayi-Kadir added that the scope of road infrastructure should be expanded and the tax credit scheme developed and refurbished.
The source also reports that Alhaji Akiko Dangote, Africa’s foremost business mogul, received the revolutionising manufacturing in Africa awards, while Mr Anthony Chiejina, Group Chief, Branding and Communication Officer, Dangote Group, received the corporate communications expert of the decade award.
Other awardees include Dr Muda Yusuf, for championing private sector cause, Mrs Omotayo Okewunmi, Public Relations Officer, MAN, for most efficient image maker and Ide John Udeagbala, National President, NACCIMA, for sustaining private sector advocacy.
The Movement for the Survival of the Izon Ethnic Nationality in the Niger Delta (MOSIEND) has called on the Management of Niger Delta Development Commission NDDC to embark on the water projects in Buguma city in Asari Toru Local Government Area, Rivers state
The Group called on the Rivers state government to revamp the Buguma fish farm to create employment for the teeming youths
On the water project in Buguma, MOSIEND said the population of Buguma has increased tremendously as the residents need more water projects to enhance the daily livelihood of the people
The Group also appealed to the Chairman of the council to assist in making the project a reality and attracts more developmental projects to the city
This call was on Rhythm 93.7 FM Port Harcourt, Radio program, Talk of the Town, by MOSIEND Eastern Zonal Coordinator of MOSIEND Half Hour Comrade Tammy Bruce Longjohn alongside Mark Ojuka,Chairman of Buguma and Hon Sandra Owunari JP Chairman Obuama and monitored by our correspondent
Comrade Ojuka also called on the Management of Liquidifed Natural Gas NLG to embark on a free medical outreach in all Kala bari communities to improve their health status
He appealed to LNG to award scholarship to indigens of Kalabari communities in tertiary institutions to better their education, noting the company is doing same in Bonny, abandoning Kalabari communities
“We need contracts, free medical, scholarships and employment including skill acquisition programs for our teeming youths in Kalabari extractions ”
On Security, Mark Ojuka said security in Buguma is at zero level with the help of the Ama Ma soldiers the city is more peaceful and investors friendly as the youths of area have cordial relationship with the security agencies in the area
“Security is very secured in Buguma clan”
He called on the Rivers state to revamp the Buguma fish farm to create employment for the teeming youths
“The youths are asking for human capacity building in the area to reduce unemployment”
“The revamping of the Buguma fish farm will also reduce youth violence”
Also Speaking, Eastern Zonal Coordinator of MOSIEND Half Hour Comrade Tammy Bruce Longjohn called for more improve in infrastructures in Kalabari community, especially in electricity
There is little improvement in terms of electricity in Buguma city
He decried the deplorable condition
of Buguma Health Centre, saying that the hospital is near functional
“Our sisters that are pregnant and our sick parents can not access the health centre for a better treatment ”
Describing the Health Centre as an eye saw, he called on Rivers state government and Buguma Local Government chairman Hon William to improve on facilities in the centre and make it more medically accessible to the sick persons in the area
Buguma, Tammy Bruce said is the spiritual headquarter of Kalabari people as such deserve more modern facilities from the government to improve lives
The Coordinator called on government, stakeholders and oil companies to assist and improve the poor infrastructural facilities in area
“We need first class hospitals, qualified medical doctors and nurses in the health centres and hospitals”
On the oil spilled in Obuoma Chairman MOSIEND Obuoma, Hon Sandra Owunari said the spill destroyed their crops and Rivers even polluted their only source of drinking water
She expressed displeasure that Rivers state government did not send any relief materials to the people in the affected community
On Chieftaincy title to women in Obuama, Hon Sandra Owunari said the community do not install Chieftaincy title to women, saying that Chieftaincy title is only reserved for men only in the community
CHINEDU WOSU
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