The Manufacturers Association of Nigeria (MAN) has appealed to the Central Bank of Nigeria – CBN to reduce interest rates to save the country’s manufacturing sector.

The outgoing Chairperson of MAN in Kwara/Kogi States, BIOKU RAHMAN, made the appeal at the association’s 10th Annual General Meeting (AGM) in Ilorin, the Kwara State capital.

Mr RAHMAN said the CBN needs to direct commercial banks to reduce interest rates on industrial loans. He also urged the Bank of Industry (BOI) to roll out further reductions in its lending rates to industries.

The outgoing MAN Boss urged the CBN to widen the window of foreign exchange to local industries while urging the federal government to harmonise taxes and levies at the federal, state and local government levels.