Nigeria’s manufacturers pay between two and 10 times more than their counterparts in countries such as Vietnam and China for electricity, credit and logistics, putting the country’s factories at a major competitive disadvantage, the National Sugar Development Council has said.
The Executive Secretary of the NSDC, Kamar Bakrin, disclosed this while presenting a paper at the technical session of the 17th National Council on Industry, Trade and Investment in Enugu.
This was contained in a statement made available to PUNCH Online on Sunday.
Bakrin said the high cost of production, rather than weak demand, was the biggest challenge confronting Nigerian manufacturers.
“None of this is a demand problem. Nobody on this continent needs persuading to buy what Nigeria makes.
“It is a cost-of-production problem — and that distinction matters because costs, unlike demand, are within our power to fix,” he said.
According to him, industrial electricity costs about eight US
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