‘Nigeria cannot industrialise as manufacturers spend half of costs on energy’ – Atiku
The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has warned that Nigeria cannot achieve meaningful industrial growth when manufacturers spend about half of their operating costs on energy. Atiku said the high cost of diesel and other energy sources was putting pressure on Nigerian businesses, forcing manufacturers to spend more money just […] ‘Nigeria cannot…
Presidential candidate Atiku Abubakar has warned that Nigeria cannot industrialise due to manufacturers spending half of their operating costs on energy. Atiku criticized the high cost of diesel and other energy sources, which are putting pressure on businesses and forcing manufacturers to spend more money just to keep their factories running.
He cited figures from the Manufacturers Association of Nigeria (MAN), stating that energy-related expenses now account for more than half of manufacturers’ operating costs. Atiku also questioned the Federal Government's decision to seek additional financing through a proposed Vienna bond, arguing that the administration should first explain how existing revenues and savings from fuel subsidy removal have been used before seeking more loans.
Brief written by urgent.news from Daily Post Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
