The Chief Executive Officer of Coleman Wires and Cables, George Onafowokan, has implored President Bola Tinubu administration to address the challenges confronting the manufacturing sector.
Onafowokan disclosed this while speaking at the 2023 distributors’ forum of the organization, which was held recently at its factory in the Arepo area of Ogun State.
He said Nigerians were optimistic to welcome the administration of Bola Tinubu and his vice, Kashim Shettima. Onaforwokan, however, asked the government to focus on the challenges confronting the economy, especially the manufacturing sector.
He said, “The administration has many challenges to put the economy from the right perspective, especially in the manufacturing sector, taking advantage of the sector to create jobs.
“The new administration must look at foreign exchange and its availability to manufacturers. If this is done, it would create stability in the market.
High-interest rates should also be looked into. This makes it impossible for some manufacturers to do business.”
According to him, the current interest rate is not sustainable for the manufacturers.
“The government should also make available intervention funds to manufacturers through the Bank of Industry. The government should also ensure that the process of doing business gets better,” he counselled.