Tuesday, 23 February 2016 12:44

SHOCKING! See The Number Of Workers Sacked In Abuja In The Last Two Months

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No fewer than 50,000 workers have lost their jobs in Abuja in the last two months, the Abuja Chamber of Commerce and Industry said yesterday. The President of the Chamber, Mr. Tony Ejinkeonye, confirmed the development in an interview in Abuja. The job losses has been attributed to the scarcity of foreign exchange for importation of raw materials by local industries.

In a similar vein, the President, Manufacturers Association of Nigeria, Mr. Frank Jacobs, said that about 10 companies had formally notified the association about their intention to shut down operations before the end of this month. Ejinkeonye said that except something urgent was done by the Federal Government to address the forex exchange problem, more people could lose their jobs. He said majority of manufacturers operating in Abuja could no longer access foreign exchange to import raw materials, adding that those who managed to get forex from the black market could not sell their products as consumers could not pay the high prices.

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