By Munachimso Obienyi
The Federal Government has said it will initiate steps towards creating a separate and special foreign exchange (FX) window for exporting manufacturers.
The Minister of Trade and Investment, Niyi Adebayo, dropped the hint during the Manufacturers Association of Nigeria Export Promotion Group’s Annual General Conference which held in Lagos recently.
At the event, the manufacturers pleaded with the Federal Government to support the sector by allowing operators to access forex through a special window to be created by the Central Bank of Nigeria.
This, according the manufacturers, will put an end to a situation where operators go to the parallel market to source forex.
The manufacturers contended that other countries like South Africa were already embracing such proposal as a means of encouraging manufacturing activities.
In his response, Adebayo said his ministry would initiate steps towards helping exporting manufacturers cushion the impact of the current forex crisis.
