The group managing director of Kam Holding, Dr Kamoru Yusuf, has called on the federal government to offer more support to local manufacturers with appreciable funding that would assist them to promote and sustain their businesses for speedy economic recovery of the nation.
Yusuf, who is also the chairman of Basic Metal, Iron & Fabricated Steel, an arm of the Manufacturer Association of Nigeria, (MAN), stated this recently in Ilorin, Kwara State.
He noted that manufacturers were taking huge risks by investing their capital, health and expertise in order to contribute to the nation-building processes as well as providing jobs for the populace.
According to him, with this, the federal government should pay more attention to them, adding that there was the need for government to initiate a single digit interest rate on loans borrowed by investors.
“With this, more industries will spring up and the existing ones will continue to wax stronger for the economic benefit of the nation,”he explained.
He also called on the federal government to extend adequate support to the Iron and steel sector of the nation’s economy in a bid to further achieve its numerous campaign promises especially in the areas job creation and youth empowerment among others.
He noted that the steel sector was one of the major bedrock of the Nigerian economy capable of changing the numerous narratives as well as repositioning the nation on the global map of business, industrial growth, economic benefits and improved revenue generation.
Yusuf, however, assured Nigerians that KAM Holding being an indigenous firm was working assiduously towards the reversal of a negative situation importing approximately 25 million tonnes of processed steel and aluminum products annually by producing more of those products locally.
He therefore advised government at all levels to ensure that science and technology got adequate attention in the admission formula into tertiary institutions across the country, in order to produce skillful and science-oriented youths who would rescue the nation from the manpower shortage in future.