The Minister of Industry, Trade and Investment, Chief Adeniyi Adebayo, on Monday assured manufacturers of Federal Government’s support to enable them to get good returns on their investments.
The minister gave the assurance when a delegation from Expand Global Industries Ltd., a manufacturing company, visited him in Abuja.
According to Adebayo, although many manufacturing companies are facing shortage of foreign exchange, the Federal Government is doing everything possible to assist manufacturers to access foreign exchange, particularly for importation of machines for production using local raw materials.
He said that the ministry would continue to assist manufacturers to remove bottlenecks hindering production process, especially with regard to the ease of doing business.
The minister added that the ministry would continue to partner with manufacturers for economic growth.
Earlier, the Managing Director of the company, Mr Rajat Kapur, sought the assistance of the minister in accessing foreign exchange.
He said that access to foreign exchange would increase the company’s production capacity.
Kapur added that manufacturers’ access to foreign exchange would increase investors’ confidence.
He said that the company, which started operations in Nigeria in 2016, had grown to become the second largest producer of detergents in the country as at 2019.
