Nigerian Manufacturers Spent ₦1.34 Trillion On Power
By Allcitynews.ng The Executive Secretary of the National Sugar Development Council, NSDC, Mr. Kamar Bakrin, has revealed Nigerian manufacturers spent an estimated ₦1.34 trillion generating their own electricity. Even as he reiterated the cost of power, credit and logistics have continued to put them at a disadvantage. Bakrin disclosed this at the technical session of the 17th National Council on Industry, Trade and Investment, NCITI, in Enugu yesterday. According to Bakrin, factories in Nigeria pay far more than competitors for the three basic inputs of manufacturing. He cited the example of a plant in Aba and one in Ho Chi Minh City to buttress his point. He said why industrial electricity costs about eight US cents per kilowatt-hour in Vietnam and 10 cents in China, in Nigeria, it is 15 cents on the grid and up to 30 cents with diesel. “Every factory in Nigeria is running a second, unwanted business as a private power station,” he added. Bakrin said working c...