Page 11 - நைஜீரியன் பொருளாதார நிலைத்தன்மை திட்டம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By Rukayat Moisemhe Lagos, Dec. 29, 2020  Like many governments, the Nigerian government has identified industrialisation as the tool to generate tangible non-oil revenue, increase employment opportunities, and contribute maximally to GDP. As part of government’s efforts at engendering sustainable economic recovery, some fiscal and monetary policies were rolled out, particularly to benefit Micro, Small and Medium Enterprises. In spite of the policies, the manufacturing sector contracted by 0.43 per cent in the first quarter of 2020; by -8.78 per cent in the second quarter and by -1.51 per cent in the third quarter of the year. Dr Muda Yusuf, Director-General, Lagos Chamber of Commerce and Industry listed the major challenges faced by the business community in the outgoing year to include liquidity crisis in the foreign exchange market, sharp exchange rate depreciation, high energy and production cost.

Central african republicCentral africanRukayat moisemheSegun ajayi kadirAyoola olukanniMeeting of the state partyLagos chamberNigerian association of chamberInstitute of chartered secretariesMedium enterprisesManufacturers association of nigeriaMuda yusufEconomic sustainabilityFederal governmentNigerian economic sustainability planAllied matters act