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Agribusiness: Maize farmers, processors condemn calls for maize importation
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By Gabriel Ewepu – Abuja
Maize farmers and processors under the auspices of Maize Association of Nigeria, MAAN, Maize Growers, Farmers and Manufacturers Association of Nigeria, MAGFAMAN, on Tuesday, condemned calls for maize importation into the country.
This was stated at a press conference by the National Presidents of the two associations, Dr Bello Abubakar, and Dr Edwin Uche, respectively.
Abubakar in his address pointed that the call was made by Poultry Association of Nigeria, PAN, seeking authorized dealers and the general public to import maize grain from the official foreign exchange market.
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Nearly one year after the Federal Government increased the country’s Value Added Tax rate, manufacturers want the 50 per cent hike in the VAT rate to be reversed.
The Federal Government had in February 2020 increased the VAT rate to 7.5 per cent from five per cent as part of efforts to boost revenues.
The Manufacturers Association of Nigeria, in its newly released MAN CEOs Confidence Index for the fourth quarter of 2020, identified the challenges that confronted the manufacturing sector in the period and recommended measures on how government could address them.
MAN said to address the difficulty in accessing foreign exchange, the government should grant concessional forex allocation at the official rate to manufactures for importation of productive inputs that are not locally available.
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The Manufacturers Association of Nigeria (MAN) has decried the depreciation of the naira and the shortage of forex in the country.
In the association’s Confidence Index for 2020’s fourth-quarter report, MAN said that manufacturers in Nigeria have faced forex difficulties since the second quarter of 2020.
It stated that it was a challenge for manufacturers to source forex for the importation of raw materials and machinery that cannot be purchased in Nigeria.
MAN said, “Manufacturers still find it extremely difficult to source FX for the importation of raw materials and machinery that are not locally available.
“Therefore, variability and large depreciation in exchange rate obstruct economic activities and manufacturing production is not in any way insulated.