Forex: MAN president advises industrialists to look inwards

-
Mr Frank Jacobs, the President, Manufacturers Association of Nigeria (MAN), on Monday advised industrialists to look inwards in view of the current scarcity of foreign exchange. Jacobs gave the advice in an interview with the News Agency of Nigeria (NAN) in Lagos. “We are beginning to look inwards owing to the cumbersome nature in accessing foreign exchange to buy raw materials. “The backward integration creates room for improved efficiency and a cost saving measures for businesses,
’’ he said. The MAN president said that this approach would create jobs for many teaming youths and improve business margins for domestic producers. “The model has the tendency to reduce the cost of transportation for manufacturers and makes commodities more competitive in the market. “This will create room for more people taking into manufacturing as a substitute for importation and raise the nation’s gross domestic product in the long run,’’ Jacobs said.

look-inwards/

Comments

Post a Comment

Message Sent

Popular posts from this blog

POS Transactions Increase to N24 Billion Monthly – CBN

-
Image
The Central Bank of Nigeria (CBN) said Point of Sales (POS) transactions value had increased from N38 million per month in 2012 to N24 billion monthly in June, 2014This is contained in a report on e-payment transactions released by the apex bank in Abuja on Monday.According to the report, mobile money transaction values up to N819 million monthly.“The POS transaction increased in volume from less than 2000 in January 2012 to 1.6 million per month as at June 2014.“Over 150,000 POS terminal is presently across the country and 22 mobile money operators has been licensed,’’ it added.It added that licensed Payment Terminal Service providers increased from five to 10 to increase POS terminal penetration across the country.It noted that Nigeria Inter Bank Settlement System (NIBSS) instant Transfer had increased in volume from 87,000 transactions a month in January 2012 to 3.1 million transactions a month as at June 2014.
Read more

Meet the world's hottest transgender - Amiyah Scott

-
Image
Yep, all that used to be male. Her name is Amiyah Scott, but she was born ‘Arthur Scott’ in New York in 1988. She's a transgender model and make-up artist. Arthur started the process of turning into a woman when he was 17. He got breast augmentation, booty shots, light filler in the cheeks etc etc.  by linda ikeji       
Read more

Streaming search engine, JustWatch launches in South Africa

-
Image
JustWatch, a search engine for online streaming, has launched in South Africa with the aim of connecting movie fans with their favourite contents worldwide. JustWatch help users find out where to watch movies legally. They can easily search through streaming services like Netflix, iTunes, ShowMax, BoxOffice, Google Play et al, and instantly find out what’s new and popular in the streaming world. The platform comes with some amazing features such as the Timeline which features all recently added movies, sorted by service and the Watchbar, which remembers individual settings. Users can also can customize their search whether you are looking for the newest streams or most popular movies. Further filter options include release year and favourite genres.
Read more