MAN urges CBN to review the guidelines of the various development funds.

The Manufacturers CEOs Confidence Index (MCCI) are an index created by the Manufacturers Association of Nigeria (MAN) to gauge the pulse of the economy on quarterly basis has disclosed that the third quarter 2019 of all the MAN CEOs disagree that the volume of Commercial Banks loan to the manufacturing sector encourages productivity in the sector has not impacted positively as it should be. Therefore, underscore the need for the current Central Bank of Nigeria to improve and sustain the current policy aimed at increasing loan to the productive sector of the economy to stimulate national output.

 

The Chief Executive Officers (CEOs) of MAN member-companies across the six geo-political zones of the country and the ten Sectoral Groups of the Association has said that there is the need for CBN to review the guidelines of the various development fund to ensure that the terms and conditions are liberal enough to attract borrowing from the industrial sector

 

80 percent of CEOs of manufacturing companies has pointed out at the Size of Loan to the Sector which needs urgent attention to promote jobs creation and improve economy.

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