Kamar Bakrin, executive secretary and chief executive officer (CEO) of the National Sugar Development Council (NSDC), says Nigeria risks losing the African market to rival economies unless it urgently cuts the cost of power for manufacturers.
Speaking at the 17th National Council on Industry, Trade and Investment (NCITI) meeting, held from July 20 to 24, Bakrin said Nigerian manufacturers pay significantly more for electricity and logistics than their counterparts in competing economies, making locally produced goods less competitive despite Nigeria’s large domestic market and duty-free access to Africa.
The cable
