NGMr. Kamar Bakrin, Executive Secretary of the National Sugar Development Council (NSDC), called for urgent policy reforms to lower production costs for Nigerian manufacturers. During the 17th meeting of the National Council on Industry, Trade and Investment, Bakrin highlighted that Nigerian producers face significantly higher costs compared to countries like Vietnam and China, citing electricity, financing, and logistics as major issues. He provided specific comparisons, noting that industrial electricity in Nigeria costs up to 30 cents per kilowatt-hour, versus 8 cents in Vietnam and 10 cents in China. Bakrin emphasized that high production costs are limiting Nigeria's competitive edge in regional markets and warned that failure to address these challenges could result in lost market share. While acknowledging recent improvements in economic stability, including reduced inflation and increased foreign reserves, he stressed that addressing cost-of-production remains critical for sustainable industrial growth.
Bias read (Center): The article presents a factual analysis of Nigeria's industrial competitiveness challenges without overtly favoring any political ideology. It focuses on economic data and expert testimony rather than taking a partisan stance. While the issue of industrial policy is politically sensitive, the tone,措
