The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, has admitted that some of the Policies
implemented by the Federal Government affected manufacturers negatively.
Enelamah, who said this in an interview with CNN in London which was published on Thursday, however, said the government was correcting the policies.
He was quoted as saying, “Some policies we passed affected manufacturers in terms of their raw materials and we are correcting those now.
“We want to discourage dumping and bad practices that happened in the past. But we need to do it in a way that does not hurt local manufacturing.”
The minister, who spoke about several issues – including Nigeria’s relationship with the United States and the economic recovery plan, said the country would achieve sustainable recovery be resolving the foreign exchange crisis.
He expressed the confidence that the government was on the right track, stressing that investors remained interested in Nigeria.
“If we create the right conditions foreign investors will come back in a big way,” he was quoted as saying.
“People are interested in Nigeria, and the infrastructure projects we have can bring in investment. We must implement policies to create market confidence.”