There are many reasons why investors flee from Nigeria and manufacturers run elsewhere to conduct their businesses, but one reason stands out the most.
Have you ever wondered how easy it is for manufacturers to generate power and at the same time run their manufacturing businesses comfortably.
Power generation and distribution is a major problem in Nigeria. This situation has forced many manufacturers out of the nation.
Some moved to Ghana and other neighbouring countries where power is constant and they can keep their businesses afloat.
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The epileptic power supply in Nigeria forces manufacturers to budget for power among other worries.
Anambra State has so many resourceful people, but how can they set u pa business and at the same time provide themselves power.
To this end, Anambra State government, in an effort to ameliorate the sufferings and pains passed through by manufacturers has taken a very bold step to manage the situation in the state.
Governor Charles Chukwuma Soludo of Anambra state secured a Memorandum of Understanding (MoU) with the Enugu Electricity Distribution Company (EEDC), for constant power supply to Anambra State.
In a meeting with Manufacturers Association of Nigeria, Anambra, Enugu and Ebonyi States’ branch, Soludo expressed the belief that this act will boost industrial growth and the economy of the State.
The news brought smile to the faces of the members of MAN in Anambra, Enugu and Ebonyi States.
In a swift reaction, the chairman, Lady Ada Chukwuedozie, expressed satisfaction with the governor’s effort at ensuring constant power supply in the state for manufacturers.
A Brilliant Move
She said, it was the first time in the history of the association, to have this kind of room for the manufacturers to interact directly with the government on how they feel as manufacturers.
“The cost of power in the State is too high, up to 50% of the cost on the manufacturers but Governor Soludo did something very brilliant, he was able to secure MoU with the Enugu Electricity Distribution Company, EEDC.
“With this brilliant move to bring steady power supply, productivity is boosted and when there is productivity, that will give rise to the low cost of products.
“Then the more you produce, the overhead will go down if you produce less, it will carry a high overhead, if the manufacturers existing businesses are happy, it will attract other businesses into the State.
“When people know that the cost of production has reduced in Anambra, more investors will troop in, which will entail the general multiplier effect of job creation and wealth creation.
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“So, the manufacturers are happy. The Governor is also happy,” she posited.
Governor Soludo reiterated the resolve of his to partner with MAN and the organised private sector to achieve his administration’s industrialisation agenda.
He urged Ndi Anambra to partronise local producers which is the best way to grow
MAN President, Chief Otunba Francis Meshioye, lauded Governor Soludo’ for being physically present.
Also she thanks members of MAN for sustaining their businesses despite the difficult economic situation.
