…..Stabilization of Foreign Exchange
By Michael Nnebife
The Chairman, Board of Directors, Keystone Bank PLC, Lady Ada Chukwudozie, has commended Governor Chukwuma Soludo of Anambra State, for infrastructural development and Agunechemba Security initiative in the state.
The Chairman made the commendation while speaking with newsmen shortly after she received the Anambra Woman of the Year Award recently in Awka, the state capital.
She expressed optimism that the infrastructural projects the Soludo Government was currently putting in place would make the ease-of-doing business in the state better and drive economic development and growth.
‘A lot of challenges have been faced by the manufacturers in the South East Region in Nigeria.
‘Of course, everybody has been singing the song of insecurity. With insecurity in the region, workers are forced to work four official working days; this has been affecting productivity.
‘Of course you may borrow a lot from the financial sector; and with inflation now high, interest rate, high MFPR rate have affected the cost of production, especially here in the South East Region.
‘The environment is not so conducive, but thankfully, we have a good Governor, Prof Chukwuma Charles Soludo, who is trying his best to contain the insecurity in his state.
‘The Governor is trying to put up infrastructure that will make the environment and ease-of-doing business, better.
‘If you may wish to know, Anambra State ranks number seven on the ease-of-doing business in the country.
‘Soludo has put in a lot of infrastructure in place; you can look at the roads he has been constructing, the Udo-ga-Chi and Agunechemba Security Outfit.
‘These will automatically drive economic development and growth,’ Lady Chukwudozie said.
Chukwudozie, who is also the Chairman, Manufacturers Association of Nigeria for Anambra, Enugu and Ebony States, commended President Bola Ahmed Tinubu, for initiating effective monetary policies.
According to her, those policies had been stabilizing foreign exchange and restoring the confidence of investors, whom, she said, were leaving the investment shores of Nigeria.
‘The manufacturing sector has been trying to survive generally; it is in the state of comatose.
‘But thankfully again, the initiatives and monetary policies our dear President has put in place via the Governor of the Central Bank of Nigeria, seem to be stabilizing the Naira.
‘Before now, about a year plus ago, in fact, it was difficult to plan an inventory because the exchange rate was very volatile.
‘But now, the CBN Governor has been able to stabilize the Naira-Dollar exchange rate, clear off all outstanding debts rate that had made investment in Nigeria a no-go area,’ the Keystone Bank Chief said.
