Hard Times For Importers
Its no longer news that Nigeria is under recession. All thanks to our government policies in curbing the excesses that importation has brought down on us. We are longer as creative as we once where(at least in the manufacturing sector). While we remain docile expecting others to produce machinery needed to gear production, other manufacturers are sourcing these content locally. We all know the Nigerian market cannot carter for 20% of manufacturers need in production and therefore sourcing other means is the only option in other to break even. Right now businesses dependent on importation are not finding it easy to run their operation because of forex "wahala" and the disbandment of certain goods from importation. While there is serious and stringent measure to manage our reserve, we cannot deny the laudable truth, that we are not just there yet, when it comes to manufacturing machines that are needed for production. Importation of this machines cannot be over-empha