The president of the Nigeria Labour Congress, Comrade Ayuba Waba, has said that the energy sector is critical to the manufacturing sector of the economy, saying that manufacturers spent N3.5 trillion annually to run power generators for production due to the collapse of public electricity.
He disclosed this at a business luncheon for managing directors/chief executive officers organised by the Ikeja branch of the Manufacturers Association of Nigeria (MAN) held in Lagos yesterday.
According to him, “Manufacturers spend as much as N3.5 trillion annually to run power generators for production due to the collapse of public electricity.
“Any government that is serious about reviving the economy must make the revival of the sector a priority. The challenges faced in terms of decayed infrastructure, bad road and epileptic power supply are necessary factors in production and their deficits have made manufacturing difficult, leading to the closure of not a few industries while a lot more had to relocate to other countries.
“It is auspicious that both manufacturers and labour build a strong alliance to step up campaigns for the revival of our economy which can only be done through the reactivation of all infrastructures needed for real production,” he said.
That's a huge amount of money. This cannot go on for a long time. Necessary action has to be taken towards the power supply. Generator companies in Nigeria is making fortune out of this situation.
ReplyDelete