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Mobile Phones industry seeks $200m intervention fund on production of phone accessories

By Charles Nwaoguji
Mobile Phone producers is seeking $200 million intervention fund to boost the production of mobile phone Accessories in the country.

According the Managing Director of OMNI Nigeria Limited, Prince Nwigwe Chibueze Uzo, the fund will go long way in making phone accessories cheaper by the time the it is being produced here in Nigeria, instead of be imported.

Apart from this, Prince Uzo said, there will be job opportunities for the youths because the producers will now employ as many as possible.

He noted that one of the greatest challenges facing the sector is the high cost of importation of these accessories into the country.

He stated his plans to establish a manufacturing plant of mobile phone in Nigeria which will serve the continent as a whole.
Commenting on good economic policies, Prince Uzo said good economic policies will transform the country’s economy from the present state to a developed one.
He said China’s economy was like that of Nigeria twenty-five years ago, but it is now among the leading global economies as a result of good policies.
He stressed that by the time intervention fund fully provided, it will great create employment for the masses, adding that government would receive more revenue from it.
He however advised the government to reduce taxes on the importation of the accessories to attract more investors and also make available raw materials that can be sourced locally as he wished they can get all their production materials in Nigeria.
“The problem is we can’t get all mostly materials in Nigeria as I hope to get all the accessories and materials here so there will be no need to import from China, USA or Italy,” he said.

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