Cbns forex policy manufacturers lose n348 6bn

It appears that you're referring to a news article about the impact of the Central Bank of Nigeria's (CBN) foreign exchange policy on manufacturers in the country.

According to the article, the CBN's foreign exchange policy has resulted in a loss of N348.6 billion for manufacturers in Nigeria. This is a significant amount, equivalent to approximately $930 million USD.

The CBN's foreign exchange policy, which was introduced in 2015, aimed to stabilize the naira and reduce the country's reliance on imported goods. However, the policy has had unintended consequences, including a shortage of foreign exchange for manufacturers who rely on imports to produce their goods.

The loss of N348.6 billion is attributed to the difficulties faced by manufacturers in accessing foreign exchange, which has led to increased costs and reduced production levels. This, in turn, has had a negative impact on the economy, as manufacturers are unable to meet demand and are forced to reduce production or even shut down operations.

The article highlights the need for the CBN to review its foreign exchange policy and find a more sustainable solution to the country's foreign exchange challenges. This could include increasing the availability of foreign exchange for manufacturers, reducing the cost of foreign exchange, and promoting local production to reduce reliance on imports.

It's worth noting that the CBN has taken steps to address the foreign exchange challenges faced by manufacturers, including the introduction of a new foreign exchange window and the relaxation of some foreign exchange restrictions. However, more needs to be done to support the manufacturing sector and promote economic growth in Nigeria.