Nigeria must address its current challenges in energy deficits to achieve meaningful growth in the manufacturing sector, says the Manufacturers’ Association of Nigeria (MAN).
Speaking in Lagos last week, MAN chairman, Babatunde Odunayo, told Nigeria-based publication, The Tide, that the situation of poor power supply had forced Nigerian businesses to call on the government to invest in power generation and supply to help the situation.
He explained that the high cost of production, coupled with high costs of providing alternative energy, had negatively affected the profitability of manufacturing operations, as well as the competitiveness of the economy.
Of the challenges facing the manufacturing operations in Nigeria, power supply constituted the greatest, he stated, adding that alternative energy supply accounted for between 30% and 40% of production overheads.
