Naira Scarcity: Sales Of Made-in-Nigeria Goods Fit Drop 25% – MAN
Di Manufacturers Association of Nigeria MAN yesterday, bin stress di need for di Central Bank of Nigeria (CBN) to increase dia efforts to ensure seamless transition from old naira to new naira notes, or else sales Of Made-in-Nigeria Goods Fit Drop 25%.
Director general, MAN, Mr Segun Ajayi-Kadir, tell di News Agency of Nigeria (NAN) say anything in contrary go get negative impact to manufacturing.
MAN yarn say if di current hardships wey Nigerian dey experience to access money still continue like this for di next three weeks, there fit be possible drop of 25% in monthly sales of made-in-Nigeria goods.
He mention say di reason na because most retailers dey transact in cash, and if di money finish, there fit be sharp drop in wholesale purchases leading to plenty unsold inventories for factories.
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He add say di situation no good for manufacturing, for di government and for di ordinary citizen. This problem go only lead to lack of patronage for di domestic manufacturer.
Ajayi-Kadir still tok say di development go deny government di revenue wey for come from di consumption taxes. This one go result in di disruption of di daily life and need of di average Nigerian.
According to am , dem need to come up with strategic communication and joint operations to ensure widespread and sustained availability and circulation of di redesigned naira notes.
