The Manufacturers Association of Nigeria (MAN) has said that the country’s poorly performing energy sector has become a bane for industrial growth and positioning to create jobs and cull investments.
The president of the body, Francis Meshioye, highlighted the principal challenges as inadequate power supply, unreliable energy infrastructure, and high electricity tariffs.
Meshioye said this prompted the association to convene the Manufacturers’ Energy Security Summit, with the theme “Energy Adequacy for Industrial Growth,” scheduled for Lagos from November 19 to 21, 2024.
According to him, the summit is crucial for Nigeria’s manufacturing sector, as energy security remains a significant challenge affecting productivity and competitiveness.
Meshioye said the summit will bring together industry experts, policymakers, and stakeholders to discuss innovative solutions, share best practices, and forge partnerships that will drive growth and sustainability in our sector.
His words: “We are all acutely aware of the crucial role that energy plays in driving industrial growth and economic development.
“Adequate and reliable energy supply is a basic requirement for the smooth operation of industries, and it is essential for achieving sustainable growth and competitiveness in the global market.
“Unfortunately, the energy landscape in Nigeria is fraught with challenges such as inadequate power supply, unreliable energy infrastructure, and high electricity tariffs.
“These challenges not only hamper the growth of industries but also undermine our ability to attract investments and create jobs.”
Meshioye maintained that there’s a need to address these challenges frontally and work towards achieving energy adequacy for industrial growth.
