Executive Director (Commercial) of Lubcon lubricants company, Ilorin, Kwara State, Mr. Fatai Woli, has called on the Federal Government to intensify efforts at improving the power supply so as to bail out manufacturing industries from their present predicament.
He said the epileptic power supply has continued to have adverse effect at achieving optimum production.
Woli disclosed this in Ilorin during a recent raffle draw organised by the company to reward its customers in the country. According to him, "epileptic power supply has remained a major factor affecting the growth of industries in Nigeria today and federal government must rise to the ugly situation."
He said the development has led many of the nation's manufacturing industries from meeting their optimum production. He added that it was based on this situation that most of them have been making use of diesel to generate their plant and equipment, which he said was too expensive to bear.
Woli, who used the occasion to laud the Power Holding Company of Nigeria (PHCN) in the state for the noticeable improvement in power distribution and supply, said the sustenance of the practice would help encourage industrialisation and improve socio-economic life in the state.
He noted that many manufacturing industries had folded up production due to irregular power supply. He said the Lubcon company recently spent N15 million to change from 11 KVA line to 33 KVA power line, adding that the company was spending between N18 million to N20 million to purchase diesel monthly. He said the company can save about N2.5 million every month when PHCN sustains current power supply in the state.
Woli also appealed to the Federal Government to assist manufacturers of lubricants in the country, to help tackle the problem being encountered on importation of base oil used as raw materials.
He said the company imports the base oil in the manufacturing of lubricants whenever the raw materials are in short supply from nation's refineries.