Through Merit Ibe, [email protected]

The operators in nigeria real sector expressed confidence in the federal government’s ability to facilitate the growth and success of the sector and the economy as a whole in 2022 through an adequate exchange rate management of policies, investments in infrastructure in the fields of electricity, roads and improvement of the security situation throughout the commercial value chain in the country.

The President of Non-Metalic Mining, Manufacturers Association of Nigeria (MAN), Mallinson Ukatu, who expressed the manufacturers perspective at an agenda setting forum in Lagos, recently noted that manufacturers were producing in an atrocious environment due to the inability to access forex to purchase the necessary raw materials and spare parts, an inadequate power supply which increased the demand for gas as an alternative source of power generation.

Ukatu, who is also the managing director of NISPO company, said MAN advocates for CBN to create a window that can help genuine manufacturers gain easy access to forex.

He expects the government to make an investment friendly monetary policy to avoid the total collapse of industries, mainly because of the high exchange rate.

He called for the unification of gas prices in terms of payment in local currency Where secure it at a fixed rate because it is intended for manufacturers.

The automaker said it was concerned about the rising price of gas, regretting that this happened as the global economy faced a huge challenge.

The boss of MAN, who denounced the fact that gas from our soil is sold in dollars, pleaded with the government to reverse the trend so that they can pay in naira.

“We have complained that we are being billed in dollars for gas consumption locally and nothing has been done to reverse the ugly trend. For years I have complained to the parent organization (MAN) that the trend should be reversed and the government is looking into the matter as well.

“We are billed according to exchange rates. Now that the exchange rate has gone up, due to the technical devaluation of the Naira and the scarcity of Forex, it has gone up.

“There is a lot to put into production apart from gas. Infrastructures, bad road network, bad port facilities must be corrected. A road of about 20 kilometers cannot be fixed in four years, that’s a joke.

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He urged the government to partner with the private sector so that these roads can be built for better business environment.

“We were also expecting the government to give us some relief for a year or more, to allow us to pay salaries, gas bills and offset some bills that accumulated during the lockdown, but what we get is , it is an increase in the price of gas. “

It is not happening anywhere in the world, it is only in Nigeria that it is happening and it is quite unfortunate.

In the context of the challenges facing investors in the foreign exchange market, the Director General of the Center for the Promotion of Private Enterprises (CPPE), Dr Muda Yusuf, Free an urgent review of the current exchange rate policy regime, calling for a flexible exchange rate policy regime. “Our proposal is that we should adopt a flexible exchange rate policy regime. We would like to point out that this is not a devaluation proposal. Rather, it is a pricing mechanism that reflects the fundamentals of demand and supply in the forex market. It is a sustainable, predictable and transparent model. It is a political regime that would reduce uncertainty and inspire investor confidence. This is a political framework that would minimize discretion and arbitrage in the currency allocation mechanism.

MAN Apapa branch president Frank Onyebu noted that his expectations for 2022 are sadly grim. “This is based on the fact that there does not appear to be any conscious action on the part of our government to reinvigorate the economy. All we’ve seen so far is borrowing and more borrowing, with little or no direct links to economic development.

“My advice to the government is to declare a state of emergency on the economy. This should be done with broad consultation and active engagement with the private sector. The problems are enormous, but surmountable. It is still possible to turn the tide with the political will and the right caliber of the people.

For the president of the SME group of the Lagos Chamber of Commerce and Industry (LCCI), Daniel Dickson-Okezie, he does not expect much improvement in the first quarters of the year.

“We don’t expect much improvement at the start of the year. But I think the closer the administration is to the exit, people lose faith in the system. Maybe towards the end of the year there could be an improvement.

“We expect forex to improve for manufacturers, a special window will be created for them.

“Attitude is important here. When people believe things will be okay, it affects them positively. Builds their confidence in the investment. Power, forex, policies should be improved.