The Manufacturers Association Of Nigeria has demanded a halt of the NPA’s 15% fee hike in the face of biting effects of the new trade tariffs for the United States.
The impact of the tariff war between the US, China, and Europe has been cancerous to other countries whose exports find consumption in some of the world’s dominant markets.
The Director General of the Manufacturers Association of Nigeria, MAN, Segun Ajayi-Kadir, said the Federal Government and other key stakeholders must immediately directly grow domestic manufacturing and restrict imports because, for a long time, people have been taking America for a ride.
Segun Ajayi-Kadir said Nigeria is only beginning to make inroads in terms of manufactured exports and must now also, as part of a strategic objective of mitigating the impact of forex, beef it up.
He said the only relief came when the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, said that there’s going to be a conversation among the economic team involving the private sector on how Nigeria should respond to it.
He observed that even lowering it to 10% is still a source of worry because they are operating in a positive balance of trade with America before then.
