The sector is further plagued by parlous infrastructure, which has seen production cost transferred to consumers in a period of rising inflation. The market shed N634 billion or three per cent as policy reversal and continued absence of foreign investors influenced the performance of the market. “Liquidity crisis in the foreign exchange market due to shortage of dollar is considered to be the major challenge facing the sector. He insisted that the room for growth in conglomerate business is hinged on huge infrastructural development and stable operating environment. According to him, the era of waiting for a foreign enterprise to come to Nigeria and form a conglomerate is gone.

Source: The Guardian April 26, 2021 04:30 UTC