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The NGX Group and several listed companies have requested the intervention of the Federal Government to alleviate the challenges faced by the manufacturing sector in Nigeria.
During a closed-door session on Monday with the Minister of Industry, Trade & Investment, Dr. Doris Uzoka-Anite, at the NGX headquarters in Lagos, foreign exchange losses and high financing costs were highlighted as major obstacles for manufacturers in the country.
The Group Chairman of the NGX Group emphasized the importance of government engagement with the capital market in addressing these challenges.
The Group Managing Director also expressed optimism about the economy and suggested collaboration between NGX and the FG to enhance liquidity in the small and medium-scale sector.
The CEO of Dangote Sugar Refinery raised concerns about the lack of hedging mechanisms for foreign exchange loans, while the Managing Director of BUA Foods emphasized the need to aggregate power supply for manufacturing clusters like Agbara.
