Ogun MAN Boss Bemoans State of Infrastructure
The country's deplorable state of infrastructure has been condemned for their adverse effects on the nation's socio-economic grow-th.
The newly elected Chairman of the Manufacturers Association of Nigeria (MAN), Ogun State Branch, Chief A.G.O. Bankole, stated this at the 19th Annual General Meeting (AGM) of the Association which took place recently at Africa Leadership Forum Conference Hall, Ota, Ogun State.
Specially, the MAN boss stated that the inability of the industrial sector to achieve the much desired industrial growth and development had generated widespread concern in public and private circles.
His words:- "The reality of our time is that the Manufacturing Sector has myriad of problems to contend with and these problems are highly responsible for the lackluster performance which has become a recurring decimal in the annals of our economic history."
According to Chief Bankole, if the tempo with which bad roads were being repaired by the Government of Otunba Gbenga Daniel of Ogun State, his creation of employment opportunities particularly for the youth, his revival of the agricultural sector and improvement in the state of security could be maintained, the hope of Manufacturers in the state in the ability of the Government to create the needed conducive business environment would be reinforced.
The renowned Industrial observed further that the high cost of doing business, power generation, high interest rate and unstable exchange rate, the deregulation of the downstream sector without adequate provision of infrastructure and its attendant impact on the economy and continuous increase in the price of petroleum products and gas which exerted enormous pressure on the market price of manufacturing products were another of the plethora of issues that had defied solutions.
The MAN Chairman explained that he cumulative average cost of power generation was about 30% of the total overhead cost of most companies, a situation which had made locally manufactured products to be 30% less competitive with other foreign products in the global market.
Chief Bankole pointed out that the stagnation in the nation's growth had been caused by these anormalies which would need extreme and concerted attention so as to be able to make the business environment friendly and achieve the much desired industrial growth and development.
He added that a lot more was still being expected from Ogun State Government, saying that it would be highly appreciated if Governor Gbenga Daniel could assist.
The Manufacturers in the State by way of ensuring that at least 40% of road networks, water schemes and other public utilities approved for 2004 fiscal year were allocated to Industrial Estates within the State.
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