High Power Costs Affecting Manufacturers in Nigeria – Segun Ajayi-Kadir, DG MAN

By Don Domnic

The Director General, Manufacturers Association of Nigeria, Segun Ajayi-Kadir has said that high Power Costs is affecting his members negatively.

He made these observations in a TVC television news programme.

According to him, this has increased production costs and by extension costs of goods in the country which has increased the cost of living.

This situation is making things difficult for their members hence some are downsizing thereby compounding the unemployment situation.

He suggested a conference that will involve government, manufacturers and other stakeholders to plan the way to go.

He said that insecurity is also worsening the situation as farmers cannot go to their farms to harvest raw materials that will enable manufacturers to embark on backward integration which will bring down prices of goods.

He equally said that manufacturers no longer make projections which facilitate Production planning as they have switched to ‘survival mode’.

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