GUPTA: CBN’S FOREX POLICY WILL ENHANCE REAL SECTOR GROWTH
• During an interview, the chairman of African Industries Group, Raj Gupta explained how the policy of the Central Bank of Nigeria has spurred huge investments in the real sector. • The bank excluded a number of imported merchandises from the list of goods valid from the official market for foreign exchange. • Gupta said that the policy helps the manufacturing sector to survive to a large extent since this sector creates local employment and African Industries Group gets most scrap materials locally. • The sector of steel is a labor intensive sector and the main input of the company is scrap metal collected by local people.
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