“Expect More Companies to Close, More Job Losses in Nigeria” – Chima Ugonna, CEO of Sterling Manufacturing

Manufacturing companies in Nigeria have continued to identify threats to their businesses and of course, the economy, following the many issues encountered in the sector. LEGIT NEWS reports.JAMB Portal

These threats, they claim, have been enhanced by the recent hike in fuel prices, forex challenges, unfavourable government policies, unstable power supply, excessive taxes and many more.NYSC Portal

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More recently, GlaxoSmithKline Consumer Nigeria Plc, a company that has existed in Nigeria for over half a century, announced its exit without giving a clear reason for doing so.informationguidenigeria

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In understanding some of these issues, Legit.ng had a sit down with Chima Ugonna, the Chief Executive Officer of Sterling Manufacturing Company, a plastic manufacturer based in Lagos, Nigeria.JAMB Result

Ugonna said that many more foreign companies will leave Nigeria and local ones will fold up if government does act fast in solving some of the pressing issues that have plagued the sector for decades.

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