* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Thursday, June 5, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    ‘Sinners,’ starring Michael B. Jordan, is now streaming on Prime Video – About Amazon

    Experience the Thrills of ‘Sinners’ Starring Michael B. Jordan – Now Streaming on Prime Video!

    California Mid-State Fair announces entertainment lineups for Frontier and Mission stages – KSBY News

    Exciting Entertainment Lineup Unveiled for California Mid-State Fair’s Frontier and Mission Stages!

    Spotify & OpenAI: Will Gen AI ‘Hollow Out’ Entertainment? – Technology Magazine

    Will Generative AI Transform the Future of Entertainment

    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Domo to Participate in the D.A. Davidson Technology Summit – Business Wire

    Domo Set to Shine at the D.A. Davidson Technology Summit!

    When fiction becomes fact: 3 pieces of modern technology inspired by Star Trek – Redshirts Always Die

    From Screen to Reality: 3 Modern Technologies Inspired by Star Trek

    The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

    Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    AI for lawyers: Win back your time using technology – nationaljurist.com

    Reclaim Your Time: How AI is Transforming the Legal Profession

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    ‘Sinners,’ starring Michael B. Jordan, is now streaming on Prime Video – About Amazon

    Experience the Thrills of ‘Sinners’ Starring Michael B. Jordan – Now Streaming on Prime Video!

    California Mid-State Fair announces entertainment lineups for Frontier and Mission stages – KSBY News

    Exciting Entertainment Lineup Unveiled for California Mid-State Fair’s Frontier and Mission Stages!

    Spotify & OpenAI: Will Gen AI ‘Hollow Out’ Entertainment? – Technology Magazine

    Will Generative AI Transform the Future of Entertainment

    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Domo to Participate in the D.A. Davidson Technology Summit – Business Wire

    Domo Set to Shine at the D.A. Davidson Technology Summit!

    When fiction becomes fact: 3 pieces of modern technology inspired by Star Trek – Redshirts Always Die

    From Screen to Reality: 3 Modern Technologies Inspired by Star Trek

    The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

    Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    AI for lawyers: Win back your time using technology – nationaljurist.com

    Reclaim Your Time: How AI is Transforming the Legal Profession

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

CBN’s Policy on 43 Items Will Collapse Many Industries, MAN tells FG

October 19, 2023
in Business
CBN’s Policy on 43 Items Will Collapse Many Industries, MAN tells FG
Share on FacebookShare on Twitter

Central Bank of Nigeria, CBNCentral Bank of Nigeria

FIRS

CBN’s Policy on 43 Items Will Collapse Many Industries, MAN tells FG

…..it will lead to unemployment, insecurity, others

The federal government has been advised to urgently reverse its decision to remove ban on 43 items on foreign exchange restriction by the Central Bank of Nigeria, (CBN) in order to save the nation from looming job crisis, insecurity and outright collapse of the nation’s economy.

The Vice Chairman of Basic Metal, Iron and Steel Products sector of the Manufacturers Association of Nigeria, (MAN) Mr. Lekan Adewoye, stated this while featuring on a TVC Business Programme. He totally condemned the new CBN policy stressing that it is capable of collapsing many industries very soon.

Adewoye who vehemently disagreed with the development from the apex bank noted that, “The news came as a surprise to manufacturers who are still struggling to stay in business, CBN did not ban the importation of these items in 2015, the apex bank only put a restriction on the importation of these items.

“For items that can be produced in Nigeria, such manufacturer ought to be encouraged. This directive will further kill the manufacturing industry that is already struggling to survive. The problem is about policy somersaults, some of our members who have outrightly invested in backward integration will now start to regret this move because everyone who can assess FOREX will claim to be an importer, forcing sincere manufacturers to close shop and increasing the numbers of jobless persons.”

“Nigerian manufacturers don’t really have any competitive advantage over those in other developing countries, at best, what you have is competitive parity, because something has to be an advantage if your competitors don’t have it. And the little incentive that government has provided now it has been removed by the directive from the Central Bank of Nigeria.”

Speaking further on why manufacturers are leaving the country, Adewoye said: “Lack of consultation, I can speak for manufacturers because we always try our best to engage the government on some critical issues and decisions, but when some of these decisions are being taken, manufacturers are not being consulted.

“Even when the 43 items were put on the restriction list, there was no consultation. It was just at the end of the day, we felt that to a reasonable extent, the decision were in the interest of manufacturers, but there were a couple of items on that list, that some manufacturers use at that time, some of those manufacturers were also affected and government is taking a decision to remove the entire items on that list without proper consultation with the Manufacturers Association of Nigeria, (MAN) to even have an idea of what effect will this have on their businesses.

“I want to assure you that many industries will shutdown very soon and this will lead to lost of jobs and insecurity will be alarming in the country. Nigeria has all it needs to produce Iron Rods and other items on this list, opening up the market will be a disincentive to manufacturers that continue to put their resources and investment into growing the industry.”

On the country’s projection and outlook for manufacturers, Mr. Adewoye urged the federal government, concerned Ministries, Departments and Agencies, (MDAs) to carry manufacturers along in decision making and policy formulation adding that, “with the full support of government, manufacturing sector will improve in capacity, create more jobs and ultimately support government in the actualization of an industrialized nation.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : EconomicConfidential – https://economicconfidential.com/2023/10/cbn-policy-collapse/

Tags: businessCBN’sPolicy
Previous Post

Naira Hits All-time Low, Exchanges for 1,100 to a Dollar

Next Post

Stiglitz, Adeosun Advocate Sovereign Debt Restructuring for Africa

Black-hole scattering calculations could shed light on gravitational waves – Physics World

Unlocking the Secrets of Gravitational Waves: The Role of Black-Hole Scattering Calculations

June 5, 2025
Fed: The Economy Is Slowing As ‘Companies Can’t Figure Out the Rules of This Tariff Game’ – Investopedia

Fed Signals Economic Slowdown: Companies Struggle to Navigate the Tariff Maze

June 5, 2025
Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

June 5, 2025
Axxam and Molecular Health link on therapeutic target identification – Pharmaceutical Technology

Unlocking New Possibilities: Axxam and Molecular Health Collaborate on Innovative Therapeutic Target Identification

June 5, 2025
Opinion | The Right Is Getting Even More Regressive on Gender – The New York Times

Opinion | The Right Is Getting Even More Regressive on Gender – The New York Times

June 5, 2025
Capsol Technologies ASA: Two US engineering studies awarded – mature pipeline projects advancing – Cision News

Capsol Technologies ASA Secures Two Major US Engineering Studies, Advancing Promising Pipeline Projects!

June 5, 2025
Pittsburgh Steelers’ training camp opens July 23 – altoonamirror.com

Get Ready for Action: Pittsburgh Steelers’ Training Camp Kicks Off on July 23!

June 5, 2025
The Ecology of Visitation – National Park Service (.gov)

Exploring the Impact of Visitor Interactions on Natural Ecosystems

June 5, 2025
Students play with science at Camp Invention at School of Innovation – News-Herald

Unleashing Creativity: Students Dive into Science at Camp Invention!

June 5, 2025
Are cold plunges good for you? Here’s what the science says. – The Washington Post

Unlocking the Benefits of Cold Plunges: What Science Reveals!

June 5, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (667)
  • Economy (682)
  • Entertainment (21,588)
  • General (15,263)
  • Health (9,724)
  • Lifestyle (684)
  • News (22,149)
  • People (682)
  • Politics (691)
  • Science (15,901)
  • Sports (21,186)
  • Technology (15,667)
  • World (668)

Recent News

Black-hole scattering calculations could shed light on gravitational waves – Physics World

Unlocking the Secrets of Gravitational Waves: The Role of Black-Hole Scattering Calculations

June 5, 2025
Fed: The Economy Is Slowing As ‘Companies Can’t Figure Out the Rules of This Tariff Game’ – Investopedia

Fed Signals Economic Slowdown: Companies Struggle to Navigate the Tariff Maze

June 5, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version