Ejiofor
The Chief Operating Officer (COO) of MicCom Cables and Wires Limited, Bukola Adubi, has identified access to foreign exchange, electricity, and unfriendly policies on the importation of raw materials as major challenges confronting cable manufacturing in Nigeria.
Adubi, who doubles as the President of the Cable Manufacturers Association of Nigeria (CAMAN), made this known during a live programme on Arise TV, recently.
With the national grid collapsing about 98 times since 2015, the cost of alternative power sources for sustaining local manufacturing of cable bears heavily on indigenous companies.
Calling for measures to guarantee the availability of these essential materials, she proposed zero import duty and access to the official exchange rate to improve the competitiveness of the sector deserves.
If the cable industry, for instance, was granted some form of waiver or zero duty on raw materials, along with access to the CBN rate for foreign currency exchange, a great part of our challenges would have been resolved.
These challenges are further exacerbated by the Federal Government policies on the importation of raw materials for incountry cable manufacturing.
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