Grapevine

Review manufacturing policies, Coleman boss tells FG

Manufacturers in Nigeria have had a challenging year, having struggled with the impact of naira devaluation and subsidy removal, according to the businessman.

“This has been a rough year for many manufacturers, including ourselves. There is nobody who has not felt the negative impact of the economy. We have negativity almost literally everywhere,” he remarked.

He noted how difficult it was for some manufacturers to send workers home during tougher times due to their investment in machinery and years of training.

Onafowokan scored the Federal Government 70 per cent for effort and 50 per cent for deliverables and urged more government effort in helping manufacturers thrive.

The Coleman MD noted there was a forthcoming intervention fund from the Bank of Industry which could provide some relief to manufacturers and called for a fast track.