Buhari Assures Manufacturers Of Forex Allocation


… moves to avert job losses
President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to prioritise foreign exchange allocation to manufacturers in order to forestall job losses.
Chris Ngige, minister of labour and employment, gave the charge during an interactive session with National Executive of National Union of Food, Beverages and Tobacco Employee (NUFBTE) in Abuja.
Ngige at the meeting also reiterated Federal Government’s unwavering commitment towards ensuring that industries remain operational, despite the lingering socio-economic challenges
“The Federal Government has directed the Central Bank of Nigeria to ensure that the backlog of applications for items needed to make industries remain operational are accorded priority in foreign exchange allocation to forestall job losses,” Ngige said.
The minister also tasked the organized labour unions to support the efforts of President Buhari led administration at reducing the country’s overdependence on imported goods and raw materials which are inimical to the nation’s foreign reserve.
In addition, the Minister lauded NUFBTE for not only focusing on workers’ welfare but also diversifying into job creation ventures, hence complementing the efforts of the Federal Government in stemming youth unemployment.
“I wish to ask your union to do more than you have been doing by assisting the Federal Government proffer solution to the excessive reliance on imported goods and raw materials.
“We want you to put on your thinking cap and devise ways and means of lessening reliance on importation by sourcing your raw materials locally to preserve our foreign exchange,” Ngige urged.
Speaking earlier, Lateef Oyelekan, NUFBTE president, applauded the minister’s intervention and pro-activeness at nipping in the bud, industrial issues that could snowball into crisis.
He further appealed to the Federal Government to help beverage companies address the challenges they face in accessing foreign exchange for the importation of raw materials.

Comments

Post a Comment

Popular posts from this blog

Wike "Changes His Name" Over Dismissal Of 6 Policemen In Rivers.

Image
Rivers State Governor, Nyesom Ezenwo Wike has declared that the government and people of the state will stand with the six policemen illegally dismissed by the Police High Command for political reasons because they committed no crime known to law. The governor noted that the government and people of Rivers State will pursue the matter through laid down legal processes to its logical conclusion. He spoke on Saturday in Ahoada East Local Government Area during the defection of Former APC Chieftain and Former Ahoada East Local Government Chairman, Mr Cassidy Ikegbidi. He said: "They gave me policemen for my protection, but before I knew it, they have dismissed them. They think they are punishing them , but Rivers State will stand with them forever. "By the time we finish, they will realise that they have favoured the so-called dismissed policemen. In Rivers State, we don't abandon people. No amount of intimidation, will make me abandon these innocent policemen ".
Read more

Presidency Reveals Date Buhari Will Return To Nigeria

Image
Special Adviser on Media and Publicity to President Muhammadu Buhari, Femi Adesina has revealed the day his principal will return. This is as he described the growing tension over the health of the president as “purely unnecessary”. Adesina also disclosed that Buhari is expected back into the country on February 6th. He told those calling on the president to speak to Nigerians on the true state of his health to respect his rights, saying no one can force the President to speak.
Read more

Jay Jay" Okocha Reveals Reason For His Early Retirement

Image
The former midfield maestro stated that not getting enough minutes on the pitch hastened his decision to quit the round leather game Austin Jay Jay Okocha has attributed his decision to retire active football early to lack of enough playing time. The ex-Nigeria international who dazzled the footballing world with his sizzling skills and breathtaking performances made the shock decision to leave the game in 2008. According to the Olympic Gold medallist, reduced minutes on the pitch of play triggered his exile from the round leather game, at the age of 34. “I must confess that [not getting a lot of playing time] was one of the main reasons why I retired from playing at a very young age,” Okocha told media men at a press conference organised by Star Times. “I believe that it is not worth it to train from Monday to Friday just to have 20 minutes on the pitch or sit on the bench on Saturday. I am very competitive.” The midfielder who last represented Nigeria in 2006, appeared for th
Read more