Solomon2day

&n bsp; The Federal Government has been called upon to urgently rescue industries that are daily folding up in Nigeria as a result of the harsh economic climate. This call was made by the Chief Executive Officer of Jagaban Communications International, Mr. Samuel Adenitan. ''The situation in the manufacturing, agricultural, power and other sectors is worrisome. Businesses are folding up, the economic environment is not conducive for business, there is no regular electricity supply and the prices of petroleum products are so high that it is almost beyond the reach of Nigerians. The Federal Government should take urgent steps to stem the tide to save the broadcast industry..'' ''Today, so many companies have either folded up or divested from the country. This development has negatively affected private television and radio stations in the country in terms of sponsorships and advertisements,'' Mr. Adenitan stated.

Made-in-Nigeria goods and services are on a fast decline due to the unfavorable environment, local manufacturers ply their trade. The promise by Those-in-Charge to ensure a conducive environment for manufacturers is yet to be fulfilled many years after mounting the saddle. A sizable number of manufacturers have decided to close shops as a result of the galloping inflation, irregular electricity supply, high cost of diesel, difficulties in accessing foreign exchange, importation of sub-standard products, and most importantly, insecurity. Obviously, the government policy on manufacturing has, over time, led to divestment by focused and serious-minded investors, who have since looked outwards. Indeed, the suggestion, if unfolding events are anything to go by, is the government would leave legacies for the manufacturing sector devoid of an all-encompassing policy and tattered support system that would take years to revamp. Note- Political campaigns are underway and frontline can...