The Federal Government, through the Minister of Industry, Trade, and Investment, Niyi Adebayo, has assured manufacturers of its support to ensure that their investments yield a positive return.
The minister, who made the assurance while hosting a delegation from Expand Global Industries Limited, stated that although many manufacturing companies were struggling with a lack of foreign exchange, the Federal government was doing everything possible to assist them in gaining access to foreign currency, particularly for the importation of machinery for those who used local raw materials in their production.
He added that the ministry would continue to support manufacturers in removing any identified obstacles that could affect their manufacturing process, particularly in terms of ease of doing business.
In a statement made by the Minister, he said “his ministry would continue to partner with manufacturers to ensure that they were kept in business for the good of the investors.”
Rajat Kapur, the company’s Managing Director, had requested the minister’s assistance to access forex or their production, arguing that having access to forex would boost their ability for expanded production.
He stated that making forex available to manufacturers will enhance investors’ confidence in continuing to invest in the country.