Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, revealed that around 2,500 members of the association are considering shutting down operations and sending their workers home due to the high electricity tariffs. This drastic action is a plea to the government to address their concerns and meet their demands.
During a media briefing for MAN’s Annual General Meeting, Ajayi-Kadir emphasized that the sudden 250 per cent increase in electricity tariffs is unsustainable for businesses. He highlighted the disparity in tariff discounts given to universities and hospitals, indicating that manufacturers also deserve similar benefits as they contribute significantly to the economy.
Responding to MAN’s legal actions against the tariff increase, Ajayi-Kadir clarified that the association remains resolute in advocating for its members. He expressed concerns about the multiple taxation burden faced by manufacturers and urged the Presidential Tax Reform Committee to streamline the taxation process to support business growth.
MAN President, Otunba Francis Meshioye, criticized the Nigerian Electricity Regulatory Commission for improperly determining tariff pricing, leading to unfair categorization of businesses. The call for a more transparent and equitable tariff structure resonates strongly among manufacturers striving to sustain their operations.