Lagos – The Federal Government should relax the hurdles of obtaining foreign exchange to enable domestic companies to sustain their businesses.
Mr Godwin Anono, Chairman of Professional Shareholders Association of Nigeria, said this in an interview with newsmen on Thursday in Lagos.
Anono reiterated that since last quarter of 2015, many manufacturers had found it challenging to operate at optimum level.
“Most of them have not been able to operate to full capacity because of the restrictions and could lay off staff and aggravate the unemployment situation in the country.
“The foreign exchange restriction is impacting negatively on most firms which depend on the importation of raw materials and machinery and therefore poor returns.
“The government should intervene quickly by directing the CBN to relax the hurdles because the country is an import driven economy,” he said.
Anono urged the government to further increase the tariffs on imported items, which were produced locally so that domestic products would have a grip of the market share.
Godwin Emefiele, CBN Governor
