7 November 2017

Nigeria: 'Increase in Power Supply Will Increase Business'

Lagos — Different exhibitors at the ongoing Lagos International Trade Fair have identified poor power supply as the major impediment to the growth of their businesses in Nigeria.

In an exclusive interview with our reporter, it was gathered from various business owners and sales representatives that the high cost of fuelling generating sets has affected their businesses negatively and led to an increase in the cost of production.

Speaking to Daily Trust yesterday, the Managing Director of B.W Foods Ltd, Babatunde Wilkey, urged government to increase power supply to 24 hours so as to maximise profits and decrease the cost of production.

He said his company, which specialises in selling fresh meat, fish and poultry foods, will expand more if he spends less on fuelling his generator to keep his products fresh.

A sales representative with Honeywell Flourmills, Omotayo, lamented the cost of procuring diesel generators.

He noted that the cost of fuel will be added to the overall cost of production which will eventually lead to an increase in the price of goods.

"If the government can give us power supply of 20 hours out of 24 hours, it will reduce the cost of production drastically and make the prices of goods to reduce," he said.

Erisco salesman, Godwin Ogochukwu also urged government to ensure the power supply is improved.

He noted that the huge sum being paid to the electricity company as well as the money being expended on generators are affecting the manufacturing industry.

He said if the money for powering generator is out of the picture, business owners will produce more as well as earn more profit.

On his part, Gallantry Samson who works for Binatone, said apart from power, poor roads, which make their goods to get to their destinations late, are a major challenge.

"The money we spend on fuel is alarming. It will assist our business if power is improved on," he urged.

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