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Insecurity has forced 60% of manufacturers in North-East out of business — MAN

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MAN said the insecurity in the country has forced 60% of MAN members in troubled North-Eastern part of Nigeria out of business.

The Manufacturers Association of Nigeria,

Ajayi-Kadir said manufacturers are spending more on security – than taxes – to secure their assets than they pay as taxes to government authorities. The MAN director-general said the cost of security and the increasing cost of energy continue to add to the production of manufacturers which translates to high prices of goods in the country.

Ajayi-Kadir rejected any “arbitrary” hike in electricity tariff, saying that the cost of power supply has been “extremely prohibitive” for many manufacturers in the country.The MAN DG noted that the President Bola Tinubu administration needs to work with stakeholders to smoothen the rough edges of its economic reforms and policies.

 

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