The Federal Inland Revenue Service (FIRS) has said all manufacturing companies in the country lost about N1.7 trillion last year as a result of the forex exchange crunch which forced many of them to discontinue operations.
Chairman of the FIRS, Zacch Adedeji, disclosed this on Monday during an interactive session with the Senate Committee on Finance at the National Assembly Complex, Abuja.
“I don’t know anybody that followed in the last one year, all manufacturing entity in Nigeria, they declared a total of N1.7 trillion losses just as a result of forex and we are saying that okay, one sector of the economy had declared N1.7 trillion losses and ask me how does that concerns government.
