The Manufacturers Association of Nigeria, MAN, has described plans to increase electricity tariffs from July 1 as outrageous. The association said the
The Manufacturers Association of Nigeria, MAN, has described plans to increase electricity tariffs from July 1 as outrageous.
But, Ajayi-Kadir said a 40 per cent tariff increase at this time would engender higher production costs, lower profit margin, manufacturing activities paralysis, and lower revenue remittances to the government, among others. He said the fact that the government itself was owed N75 billion in unpaid electricity bills was indicative of how burdensome the cost of electricity had become.
“Manufacturers will ultimately pass on the additional cost to the consumers of their products, and this will increase the cost of the products in the market and complicate the rising inflation rate in the country.
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