MAN: Subsidy removal, economic reforms, key focus for Tinubu-led FG

By Joy Obakeye

Nigerian manufacturers have listed key areas president-elect, Bola Tinubu and his cabinet when appointed, should focus on in the first 100 days in office, barring any post-election setbacks.

“There are low-hanging fruits; there is also the long-term perspective for stabilizing and growing the economy. I would suggest that the President when sworn in should set specific deliverables to be accomplished within the first 100 days in office. A must-do list within the 1st 100 days after the swearing-in.”

In a statement sent to Daily Times, Segun Ajayi-Kadir, the Director General of the Manufacturers Association of Nigeria, is quoted, as making some recommendations.

“Permanently resolve the lingering difficulties with the currency transition if it has not been completely addressed by the outgoing government. As already indicated, this has resulted in a more than 25% dip in sales of manufactured products.

” If the problem lingers, the new administration should swiftly address it, without throwing away the baby with the bath water.”

The group urged the new government to direct the CBN and ensure that it complies with the prioritization of foreign exchange to the productive sector, particularly to manufacturers to import raw materials, spares, and machinery that are not locally available.

It urged the incoming government to take immediate and time-bound steps to achieve the unification of the foreign exchange windows.

MAN added that the government should direct the “NERC to admit all qualified applicant companies into the Eligible Customer Scheme to allow them access to power as stipulated in the Electric Power Sector Reform Act 2005.

Direct all relevant agencies of government to ensure that the electronic call-up system at ports aimed at redressing the congestion works without fail.”

The association urged the new government to take a definite stand by ordering the removal of fuel subsidies. “The decision should be outright and immediate steps should be taken to commence removal.

” The new government should not be under any illusion about the need to stop the drift and hit the ground,” it stressed.