“We have reduced the cost of production successfully the issues of our local currency notwithstanding.
“Both programmes have helped to bring down the cost of production, but what also helped us in reducing the cost of production is from a very unlikely quarter and that is COVID-19. “Also, the fact that a lot of expatriates left because of COVID-19 made our locals to step in and of course, the locals are cheaper and we have to find local solutions to some of our problems.“So, on the whole, we were able to significantly bring down the cost of production even beyond five per cent and our target now is not just five per cent, but we are targeting 10 per cent,’’ Sylva said, while briefing newsmen in Abuja, on Tuesday.
He attributed the spike in volume to the activities of smugglers, saying that it was not a regular situation and could not be used as a measure to determine the volume of daily consumption.
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