The scarcity of foreign
exchange for importation of raw materials by local industries is adversely
affecting the sector as over 50,000 workers have lost their jobs in Abuja in
the last two months.
The
President, Abuja Chamber of Commerce and Industry, Mr. Tony Ejinkeonye,
confirmed the job losses in an exclusive interview with Punch in
Abuja.
Similarly,
the President, Manufacturers Association of Nigeria, Mr. Frank Jacobs, said
that about 10 companies had formally notified the association about their
intention to shut down operations before the end of this month.
Ejinkeonye
said that except something urgent was done by the Federal Government to address
the forex exchange problem, more people could lose their jobs.
“Currently,
in Abuja, we have about 50,000 workers that have lost their jobs in the last
two months. I must confess this is not a good time for the manufacturing
sector,” he said.
He said
majority of manufacturers operating in Abuja could no longer access foreign
exchange to import raw materials, adding that those who managed to get forex
from the black market could not sell their products as consumers could not pay
the high prices.
He said, “As
manufacturers and industrialists, the scarcity of foreign exchange has affected
us in the area of raw materials that need to be imported. We cannot access
foreign exchange anymore to import raw materials.
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