By Muideen A. Ibrahim (MAI)
Diesel was sold for N550.00 yesterday in Lagos (official price please).
The situation is now very critical and unbearable for Manufacturers.
This would no doubt have spiral effects on the goods and services.
This presupposes that prices of goods and services will go up once again. Thereby compounding the problems of Nigerians the more.
Because the Manufacturers will push it back to the consumers.
My worry and concern are that where are we going in this country for God’s sake?
This government sold a dummy to us that it could no longer subsidize diesel and that we should allow market forces to take charge. That the price will come down naturally once there is competition. Hence subsidy was finally removed.
Alas, the price of diesel is skyrocketing daily unabated! This is indeed really sad!
Another negative consequence is that more factories would be forced to shut down once again.
Yours truly passed through Oba Akran corridor last week Tuesday and when I got to former Dunlop Factory premises, I shook my head and wept inside for this great country because the company is now moribund for a while now. That happened before this administration anyway. But one would have expected this government to fix things, put good policies in place, revive moribund companies and not compound them.
Only 3 companies are still standing along that corridor like Rock of Gibraltar (Guinness, Berger Paints, Vitafoam and Nigerite).
All the textiles and other viable companies along that corridor are dead. All their workers are now in the labour market depressed and dejected.
Whereas, Manufacturing Sector is driving force of any good economy. Hence good countries drive their economies via Manufacturing (China, Germany, Japan just to mention a few in my mind).
I can tell you for free that most of the companies in Ikeja, Ogba, Oshodi, Amuwo Odofin and Ilupeju Industrial Estates are either dead, buried and or completely moribund.
Unfortunately, their premises are either turned to Churches or Warehouses!!! What a Nation!
It should be noted that Late Chief Obafemi Awolowo of blessed memory created all the aforementioned Estates but unfortunately, our current crop of leaders cannot sustain them.
This is rather unfortunate.
As we speak, imported goods from China are far cheaper than the ones we produce here.
This is as a result of the economic indices that are no longer palatable!
Now that diesel is sold for N550.00 what will happen to some companies most especially with respect to SMEs that use diesel to power their businesses can better be imagined than described simply because Electricity is as erratic as ever.
Unfortunately, the heartless Distribution Companies have also increased their Tariffs. Meaning Nigeria now pay more for darkness.
And someone will tell me we have a responsible and responsive government in place.
I can’t phantom what the Economic Advisers to this government are doing. Why can’t they just resign?
It should be noted that the Balance of Trade is no longer balance and can never be balanced under these ugly scenarios. To crown it all, Manufacturers cannot Export as expected like their counterparts in other climes. Just simple Economics we can’t apply.
Forex is skyrocketing unabated! (N415.00 or more per Dollar depending on your location or who is selling to you).
Hence, Manufacturers can no longer import component items that are not locally produced here again!
Oh my God!!!
This is really sad and disheartening! Sad story and sad commentary.
According to www.dictionary.com, The synonyms of Wither are wrinkle, shrink, dry, decline, languish or droop Fill in the gap, please.
In the light of the foregoing, it rightly shows that Nigeria as a country has completely withered!
The one million dollar question is that who will rescue Nigeria from this unfortunate mess and the rigmarole that we now find ourselves?
Nigeria urgently needs a lifeline!!!
Be that as it may, the government is caught napping, harples and completely helpless.
Unfortunately, no one from the government circle is talking or engaging the Manufacturers cum Nigerians.
The Federal Government needs to apologize to Nigerians as a matter of utmost urgency.
Because this is NOT what APC government promised Nigerians in 2015.
We had high hopes and great expectations from this government in 2015. Hence Nigerians voted for PMB massively. But this government has dashed our hopes and aspirations. Really sad and disheartening.
I am not a political jobber or sycophant please but a Manufacturer who is caught in the Web!*
I have regretted dabbling into Manufacturing because it is not a child’s play at all in Nigeria.
Nigeria is now at a crossroad most especially in the Manufacturing Sector and which way forward?
The solution is quite very simple, we need good and workable policies that would be implemented in order to drive the economy to fruition. Simple!!!
This government should stop playing politics with our lives and means of livelihood!
All the economic parameters are no longer smiling at all and the truth of the matter is that they were NOT as high as what is obtainable now prior to 2015 when this government came into power.
Kindly share until it gets to the government circle maybe they can do something to address the ugly situation.
It is well!
God bless Nigeria!
MAI is a Manufacturer and based in Lagos, Nigeria.
PS: I cried out because I am feeling the pinch please!!!
