FG 2019Budget: MAN calls for dredges various Ports outside Lagos State to decongest Tin Can and Apapa Ports

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Sequel to the perspectives of the Manufacturers Association of Nigeria (MAN) on the 2019 Federal Government Budget’ statement released today Monday on December 31, 2018, Association pointed out that no mention is made of the need to dredge the various ports outside Lagos State to decongest Tin Can and Wharf ports and reduce the cost of moving goods from ports to the factories in the 2019budget proposal.

 

“The 2019 Budget tagged “Budget of Continuity” has important provisions aimed at reinforcing and building on the recent accomplishment of the economy.  Consequently, for the budget to be effective there is need to sustain expansionary policy stance while ensuring a sufficient synthesis of monetary and fiscal policies.  By implication, lending rate should moderate through development windows while taxes and levies should either drop or remain unchanged and backed by incentives.

 

MAN further stated that although, the performance of the manufacturing sector in the course of the year has remained positive, the oscillatory nature of the growth however remained a source of concern for MAN and other stakeholders. For instance, in the first quarter of 2018 the growth rate stood at 3.39%; fell to 0.68% in the second quarter and later increased to 1.92% in the third quarter of the year.

 

MAN attributes the poor performance of the sector to high cost of doing business, sluggishness in manufacturing activities due to the heaps of unsold inventory majorly resulting from the delay in implementation of the budget during the year and dwindling purchasing power of the average consumer

 

MAN pointed out that inadequate electricity supply from the national grid and the bad conditions of roads across the country remain core challenges of the manufacturing sector.

However, Association applauded the government over the N1.02 billion allocation to the Mambilla Hydro Power project; N400 million for construction of 215MW LPFO/ Gas Power station Kaduna; N388.5 million for Kashimbilla transmission; and N398 million for Fast Power Programme Accelerated Gas and Solar Power Generation are welcome developments.

 

“It is on record that Nigeria suffers well above 20 million housing unit deficit, according to Federal Mortgage Bank of Nigeria (FMBN). Consequently, the N30.04 billion allocation for Federal Government National Housing Programme is also a good development that should bring some


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