Phone Dealers Urge Government Intervention on Rising Import Costs
The Phone and Allied Products Dealers Association of Nigeria (PAPDAN) has called on the government to support local manufacturing of telecommunications and mobile devices to stabilize the economy.
PAPDAN President, Ifeanyi Akubue, stated in an interview with the News Agency of Nigeria (NAN) on Friday that boosting local production would reduce reliance on imports and ease pressure on the dollar.
He recalled that about five years ago, the previous administration introduced an initiative for local mobile device manufacturing, which was well received by Nigerians. However, the effort fizzled out, leading to a continued high demand for foreign exchange, which remains a major challenge for businesses.
“The constant fluctuations in the dollar have made business operations difficult, often leading to losses,” Akubue said.
He emphasized that local production would enhance supply chains, create job opportunities, and reduce the country’s vulnerability to external economic shocks.
Akubue also urged the government to address forex instability, as it affects not just businesses but the entire economy.
He further disclosed that PAPDAN plans to provide loans to members to help them navigate the challenges posed by currency fluctuations and remain operational.
“We are also engaging with the government to find lasting solutions to the forex crisis,” he added.
