The Phone and Allied Products Dealers Association of Nigeria (PAPDAN) on Friday urged the government to encourage local manufacturing of telecommunications and mobile devices for a stable economy
The PAPDAN President, Mr Ifeanyi Akubue, said in an interview with the News Agency of Nigeria (NAN) that the local manufacturing would reduce dependence on imported goods.
Akubue said that it would also crash the demand for dollar ot cushion the effect of its fluctuations.
He said that about five years ago, the last administration introduced local manufacturing of mobile device which was warmly welcomed by Nigerians because it would reduce over dependant on importation.
According to him, nothing was heard of it again, thereby encouraging demand for the dollar which is a major challenge faced by businesses in Nigeria.
“The dollar fluctuation has made it difficult for us to do business because most of the time we are at loss.
‘’The rate keeps changing, and it is affecting our profits.
‘’We import goods, and when the dollar rate increases, our costs also increase,” he said.
Akubue said that the local manufacturing was advantageous because it would encourage efficient supply chain for businesses as well as create job opportunities.
He said that local manufacturing would also make the country less vulnerable to external shock and promote self sufficient.
He appealed to the government to find a solution to the dollar fluctuations, stressing that it was affecting not only businesses but also the economy as a whole.
Akubue said that there were plans to provide loans to its members to help them cope with the challenges posed by the dollar fluctuations and stay afloat.
“We are also discussing with the government to find a solution to the dollar fluctuations,” he said.
