An industrialist, Chief Innocent Chukwuma of Innoson Vehicles Manufacturing (AVM) Company Ltd, has urged the Federal Government, to reduce the high tariff placed on power and dollar rate to enable the firms boost manufacturing.
Chukwuma tasked the Federal Government to take steps towards reducing the hardship faced by manufacturers in sourcing dollar at the forex market.
He added that the problem associated with high tariff on power generation is not helping in meeting production and other targets.
According to him, there’s need to bring down the high tariff charges on power as people think that because the vehicles are manufactured in Nigeria, the prices are going to be cheaper.
“One of the challenges we have is forex. Instead of getting the dollar at actual rate in the banks, you have to look for other ways maybe at the black market in order to meet demands,” he said.
Chief Chukwuma, the Chairman and Chief Executive Officer of IVM, Company Limited disclosed this on Friday while speaking with journalists in his office.
He thanked the Governor of Anambra State for taking the bold patriotic decision to use Innoson products as his official vehicles