The difficulties in getting foreign
exchange and the steep fall in the value of the naira are seriously
affecting the manufacturing sector, with prices of locally made and
imported food items heading northward, IFE ADEDAPO writes
The scarcity of foreign currencies in
the country, especially the dollar, which has made it difficult for
manufacturers of essential food items to import raw materials into the
country, is threatening about 40,000 jobs.
Investigations by our correspondent
showed that the high cost of importation due to unprecedented fall in
the value of the naira has made importation difficult and expensive,
thereby resulting in many factories operating far below their installed
capacities.
