The Nigeria Employers Consultative Association (NECA) has said that the increasing cost of infrastructure in Nigeria is hindering the growth and development of manufacturers, leading to the closure of some companies and the exit of multinationals in Nigeria.
This was disclosed by Ifeanyi Okoye, president of NECA, who noted that the challenges faced by Nigerian manufacturers require urgent government action. “There are a lot of issues that are bothering manufacturers in this country. One of the major aspects of the economic problems that most manufacturers have is infrastructure. When you are a manufacturer in Nigeria, you are paying a lot providing your own infrastructure,” he said.
Okoye noted that infrastructure deficiencies pose a major obstacle to the growth of manufacturing businesses in Nigeria.
“Manufacturers often bear the burden of providing their own infrastructure, such as electricity and security, which can significantly increase operating costs,” he emphasised.
He added that the unstable economic environment, characterised by fluctuating foreign exchange rates and inconsistent government policies, creates uncertainty and discourages investment.
“The lack of adequate transportation infrastructure also hinders the efficient movement of goods, further impacting manufacturers’ bottom lines,” he said.
Okoye urged the government to take steps to address these infrastructure challenges, arguing that a supportive business environment is essential to attract and retain investors.
