Nigeria's Small Industries Choked by Imports and High Interest Rates
Nigerian industrialists lament that domestic manufacturing is struggling against a tide of imports and crippling interest rates. Experts highlight a critical lack of government support for the processing sector, making local production unprofitable. This continues to hinder the growth of small industries and stifle economic diversification across the nation.
An industrialist and manufacturer in the agricultural sector, Tertsegh Tor, has said it is more profitable to import goods than to manufacture them in Nigeria. Speaking to Nigerian Tribune, he lamented that government is not giving enough attention to the processing sector.
This story was sourced from Tribune Online and rewritten in SEVA editorial voice. Read the full original at the source.