- MAN decries rising cost of electricity
The Manufacturers Association of Nigeria (MAN) has decried the rising cost of production due to high electricity costs. MAN has stated that electricity accounts for about 45% of the production cost. The high cost of electricity has made Nigerian products uncompetitive for international trade.
The Chairman, Infrastructure Committee MAN Ibrahim Usman, disclosed this at the inauguration of the National Clean Energy Skills Certification for Young Professionals by the Council for the Regulation of Engineering in Nigeria.
”In other countries, manufacturing is very competitive, and you cannot succeed in it if your production cost is not down,” Usman stated.
”We want our goods to be competitive. We want our prices to be right, but they cannot be right when the electricity cost for the manufacturing sector in other countries is a maximum of 10 per cent whereas here it is 35 to 45 per cent. So we are already backwards.” Usman added.