Smuggling: Many local rice industries may collapse soon - SINET

The Federal Government has been alerted that many local rice factories will soon become moribund thereby subjecting the nation’s industrial drive to hardship.

The group noted with concern that, attempt by some groups to mount undue pressure on President Muhammadu Buhari to re-open the Nigerian border will cause the collapse of the nation’s industries, especially the rice factories. According to SINET, “While the nation is counting the numerous gains of border closure especially in the areas of economic recovery, revenue generation and reduction of insurgency, it is saddened that some unpatriotic fellows want the policy reversed.

“It is pertinent to note that with the border closure, many industries have commenced operations thereby providing more jobs for Nigerians while the Central Bank of Nigeria, has invested heavily on local manufacturers by providing them with loans.

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