The Chairman, Bureau De Change Operators in Sokoto State, Alhaji Aliyu Sahabi, has advocated the provision of special intervention funds, by the Federal Government, to local manufacturers in Nigeria.
Sahabi told the News Agency of Nigeria (NAN) in Sokoto on Monday that the funds would greatly help in reviving the collapsed local industries.
He said: ‘’The revival of local industries is key to finding plausible solutions to the current recession hitting Nigeria hard.
‘’The industries that have collapsed and others comatose include; textiles and others producing a myriad of items.’’
Sahabi further said that the revival of the industries would reduce poverty, unemployment and the high demand for the scarce foreign exchange.
The chairman further called for the special provision of foreign exchange to large scale importers to reduce pressure on the parallel market.
Sahabi described the recent move by the Central Bank of Nigeria (CBN), to cleanse activities of the foreign exchange market operators as a good development.
” We really welcome any action that will rid the market of bad eggs to ensure that all the operators are law-abiding.
” Such actions are crucial, more so that President Muhammadu Buhari is wagging a very commendable war against corruption.
” The president should sustain or even increase the tempo of the war, in spite the intricacies.”
The chairmen also expressed optimism that the 2017 budget was capable of taking Nigeria out of recession and restore its economic prowess if effectively implemented.
”My only appeal is that the budget should be religiously implemented and all the programmes and policies aimed at reforming Nigeria’s economy sustained.