Manufacturers Association of Nigeria (MAN) on Tuesday expressed grave concern over the ripple effects of the recent hike in electricity tariff which has resulted into closure of over 300 companies and 380,000 job losses over the past two months.
Senator Ahmed Abdulkadir who spoke on behalf of MAN in Abuja, during the investigative hearing into organised by the Joint Committees on Power, Commerce, National Planning & Economic Development and Delegated Legislations, observed that In fact, electricity related expenses of a manufacturing concern constitute about 40% of the production overhead.
Worried by the decking fortune of the manufacturing/real sector of the Nigerian economy, he…
Source: Nigerian Tribune
