Billions Invest In Local Raw Materials As FX Scarcity Hurts – Manufacturers

Billions of naira are pumping into raw materials by manufacturers sourcing as foreign exchange (FX) scarcity continues to hurt down their capacity to import inputs.

FX crunch because of oil price lows since 2014 has disrupted productions and projections, while forcing 54 small factories to shut down in 2016 and threatening more closures and job losses.

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