Business

Poor power supply threatens economy – Company executive

Poor power supply threatens economy  –  Company executive

Geregu Power Plant

BY NAOMI UZOR
Al Grainnoodles Ltd, has lamented on the poor power supply in the country, saying, that it is unfavourable to the manufacturing industries and poses a threat to the  economy.

In a parley with pressmen in Lagos, the Chief Executive Officer (C.E.O), Al Grain Foods Nigeria Ltd, Chief Anthony Obidulu, said government at all levels should encourage investors in the manufacturing sector by  improving on the power supply, as it serves  as the engine room to manufacturing, adding that, in doing this the country will be gradually industrlized.
”The manufacturing /industry sector, presently in Nigeria, is still groaning under the pressure of huge and unbearable energy cost as most firms now rely fully on their power generation for production. So far, we have tried to hold our heads above water in tackling the power situation by relaying majorly on our own power generation with the usage of generators, which has also not been cost friendly. The unstable poor power situation poses a threat to the economy at large” he said.

He said he applauds the steps taken by the federal government on the privatization of the power sector, but appeal that both the government and the new investors, should, as a matter of urgency, improve on the supply of power generation in the country so as to save the manufacturing/ industry sector in the country from total collapse due to the burden of energy cost that has become agonizing.

“I urge government at all levels, to encourage manufacturers/industrialist in the country by providing infrastructural amenities, so as to help improve on the employment rate in Nigeria, boost production for manufacturers by providing adequate power supply, infrastructures such as good roads, rail transportation and zero import duty on machineries and equipments for manufacturing and agricultural sectors, as this will help in promoting exportation of goods manufactured in Nigeria to other countries” he stated.

He noted that Al Grain noodles is already making waves in the Nigerian market and is competing favourably with other noodles, adding that, they  are not relenting in the production and quality of the products.