The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has praised the Nigerian Government for restricting import of textile items. Its director general Emeka Okereke said the decision by the Central Bank of Nigeria (CBN) to deny foreign exchange for import of textile products will boost domestic production but may encourage smuggling.
Smuggling may start if Nigerian manufacturers cannot satisfy the domestic market, he said.The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has praised the Nigerian Government for restricting import of textile items. Its director general Emeka Okereke said the decision by the Central Bank of Nigeria (CBN) to deny foreign exchange for import of textile products will boost domestic production but may encourage smuggling.#
He offered the example of rice, which is still being smuggled into the country despite the country banning its import, according to a news agency report.
Okereke urged the government to implement the strategies for ease of conducting business by the Presidential Enabling Business Environment Council. (DS)
Fibre2Fashion News Desk – India
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