Following the recent policy on foreign exchange, Senator Ben Murray-Bruce has called on President Muhammedu Buhari-led federal government to prioritise the provision of foreign exchange for manufacturing companies to save jobs and the sector from colapse.
The Bayelsa Senator made the call on Sunday, in several tweet posts through his Twitter handle @benmurraybruce with the hashtage #prioritzeForexForBusiness.
The tweets reads, “Recently, many of our workers have been thrown into the labour market because several firms are closing up shop #prioritzeForexForBusiness
“Some like Clover & Truworths, are divesting from Nigeria. Others are shutting down because they’re Nigerian owned #PrioritzeForexForBusiness
“In Kano, textile and hides and skin factories have closed with the thousands thrown into the job market #PrioritzeForexForBusiness
“This is the story all over Nigeria, particularly more so in the ancient city of Kano, Kaduna, Lagos & others #PrioritizeForexForBusiness
“And what is the problem? Why are companies struggling in Kano, Kaduna, Lagos and all over Nigeria? #PrioritizeForexForBusiness
“I was interested & investigated the case of Terytex, one of few Kano textile firms that hasn’t closed up shop #PrioritizeForexForBusiness.”
According to him, Terytex MD, Mohammed Sani Ahmed, says his greatest challenge is sourcing forex to buy machine parts in Europe #PrioritizeForexForBusiness, and that “Terytex is not alone. I have talked with literally tens of manufacturers who are saying the same thing #PrioritizeForexForBusiness.”
The tweets further reads, “We must prioritize manufacturers in the foreign exchange regime if we want to return Nigeria to her glory days #PrioritizeForexForBusiness
“Why should Terytex and other manufacturers in Bayelsa, Kano and elsewhere struggle to get foreign exchange? #PrioritizeForexForBusiness
“The reverse should be the case. Nigeria should struggle to give manufacturers foreign exchange to grow biz #PrioritizeForexForBusiness
“This year, the FG, state and local governments plan to spend as much as N30 billion on imported luxury cars #PrioritizeForexForBusiness
“Before allocating forex to import luxury cars for politicians, we must prioritize forex to manufacturers #PrioritizeForexForBusiness
“Its not right that employers of labour can’t get forex for parts, yet leaders can import luxury cars #PrioritizeForexForBusiness
“Manufacturers need forex to produce so we can #BuyNaijaToGrowTheNaira. That’s the only way we can create jobs #PrioritizeForexForBusiness
“Our big men and women cannot keep wearing Louis Vuitton shoes and bags at an average cost of $4000 #PrioritizeForexForBusiness
“Where does Louis Vuitton get its leather from? From a tannery right here in Kano called God’s Little Tannery #PrioritizeForexForBusiness
“Yet our elites spend millions of our forex on Louis Vuitton products that actually originates from Nigeria #PrioritizeForexForBusiness
“Unless we #BuyNaijaToGrowTheNaira, we’ll keep being subject to ups and downs of the international oil market #PrioritizeForexForBusiness
“Before we fund the importation of luxuries for our big men, let us #PrioritizeForexForBusiness. What I say here, I’ve said at the NASS!”
