Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Government urged to pursue friendly economic policies

05 January 2016, 18:32

Lagos - The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has urged the Federal Government to pursue friendly policies that would stimulate the economy.

Emmanuel Cobham, Director-General of NACCIMA, said that government should pursue policies that would enable manufacturers have access to foreign exchange for raw materials to boost their production.

He said in Lagos on Tuesday that the chamber’s expectations for 2016 hinges on government stabilising and strengthening the manufacturing sector through friendly policies.

Cobham said that activities of the manufacturing sector had been stifled by restrictive foreign exchange policies that hindered access to procurement of raw materials, not available locally.

He opined that while some of the foreign exchange policies could revolutionise local industries in the long-term, advised that caution should be taken in its execution to avoid disruption of local production.

Cobham said that continued growth and investment in the manufacturing sector would be guaranteed through increased access to foreign exchange.

He explained that sustained agricultural policies by the government would strengthen the agricultural sector to produce production inputs for industries while creating more jobs for the youths.

He added that improved infrastructure would reduce the cost of production, which would in turn make local goods and services competitive in the global market.

The director-general also urged the government to formulate policies that would strengthen the value of the Nigerian currency against its steady decline in the foreign exchange market.

He called for a reduction in the lending rates from its present 11 per cent to a single digit rate to re-invigorate the real sector in the country’s diversification drive.


Tags nigeria

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...