As Nigeria’s energy crisis continues to buffet businesses across the country, the Manufacturers Association of Nigeria (MAN) has urged the federal and state governments to rescue industries from the current epileptic power supply and hike in price of diesel across the country. THE SUN reports. Information Guide Nigeria

According to THE SUN, a statement by Mr Bioku Rahmon, the Chairman Kwara/Kogi states branch, said there was the need to urgently rescue players and investors from an imminent orgy of unemployment and mass closure of companies currently looming in the country.

See Other Top News:

• Court Sacks 20 Cross River Assembly Members Over Defection
• “Umahi Is Gone For Good” – Kanu’s Disciple
• Defend Yourselves, CAN To Residents As Bandits Invade Southern Kaduna
• Buhari Arraigns Uzodinma, Others Over Imo Attacks

According to the statement, while the manufacturing industry was yet to fully recover from the monumental strangulations it suffered from the COVID-19 pandemic, the ongoing energy crisis is the exact antithesis of what the industry can’t contain at this time.

To this extent, the association called on the state and Federal Government to bail it out and save the manufacturing sector from imminent collapse. jamb results

It also asked that the interest rates on industrial loans be reduced by commercial banks adding that the government should widen the window of Foreign Exchange (FX) to industries and a drastic reduction of interest rates as done with the COVID-19  palliatives.

“Renewed wave of inflationary pressures further plunged the buying masses into extreme depths of poverty with concomitant erosion of customers’ Disposable Income (DI) and hence culminated in low patronage of our industrial finished products.

Check and Confirm: How much is Dollar to Naira today    Pounds to Naira today