Governor Babajide Sanwo-Olu of Lagos State, his Ogun counterpart, Dapo Abiodun and the Minister for Industry, Trade and Investment, Niyi Adebayo are expected to grace the 2022 annual conference of the Commerce and Industry Correspondents Association of Nigeria ( CICAN).
The conference scheduled for November 3 in Lagos is themed: “Manufacturing: Despite FX and Energy crisis”.
A statement issued by the Chairman of the Association, Charles Okonji said the President of the Manufacturers Association of Nigeria, Otunba Francis Meshioye and the Minister of Industry, Trade and Investment, Otunba Adebayo will be the special guests of honour, while the Director General of MAN, Mr. Segun Ajayi – Kadir will give the keynote address.
The statement said: “We chose the theme knowing the plights of local manufacturers who now have to rely on the parallel market to source for FX at a high rate.
“ FX had been exchanging for between N500 to N740 to $1 since the beginning of this year, as the Central Bank of Nigeria (CBN) is unable to meet demands at the official window.
“ The impact of the Russia and Ukraine war led to diesel being sold for as much as N700 to N900 a litre as against N200 to N300 it was before the outbreak of the conflict.’’