The Manufacturers Association of Nigeria (MAN) has identified poor power supply, high cost of diesel, and raw materials, as affecting the businesses of its members in Edo and Delta states.
Dr. Okwara Udensi, Chairman of MAN, Edo/Delta chapter, also said the high inflation in the country and the continued depreciation of the Naira in the foreign exchange market were forcing manufacturers in both states to scale down their activities.
The Manufacturers Association of Nigeria (MAN) has identified poor power supply, high cost of diesel, and raw materials, as affecting the businesses of its members in Edo and Delta states.
Dr. Okwara Udensi, Chairman of MAN, Edo/Delta chapter, also said the high inflation in the country and the continued depreciation of the Naira in the foreign exchange market were forcing manufacturers in both states to scale down their activities.
Udensi told the News Agency of Nigeria (NAN) in Benin on Friday that the manufacturing sector might become moribund if the high cost of production of manufactured goods was allowed to continue.
“Our members are complaining of low power supply from the electricity distributors in the areas where their businesses are located.
“The power supply is going down on a daily basis, while consumers are being charged outrageous electricity tariff; in some cases you will not have power but electricity bills will be given to you to pay.
“All our members are complaining about power shortage because the price of Diesel to run generators has recently gone up to N290 per litre.
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“We were buying a litre of Diesel for between N210 to N230 earlier this year, but it has increased by almost 30 percent.”
According to him, the price of most of the raw materials, especially the imported ones, had gone up by over 100 percent.
“We are struggling to remain in business because customers are not ready to buy our manufactured products at high prices.”
He suggested that the government should monitor the activities of the power distributors to tackle the sharp practices in their dealings with consumers.
Udensi also recommended that both the government and private investors should look into investments in renewable sources of energy, such as the use of gas and solar power for industrial purposes.
NAN
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