Business
MAN Expresses Worry Over Low Capacity Utilisation
The Manufacturers Association of Nigeria (MAN) Rivers/Bayelsa branch has expressed worry over the low capacity utilization of industries, due to infrastructural deficit.
Speaking with The Tide in Port Harcourt, the Executive Secretary of MAN, S.A. Johnson said the decline of capacity utilization of industries over the years was attributed to a number of factors, which include infrastructure deficit, especially energy and transportation.
He said that the unbridled inflow of imported and smuggled goods and other issues stated earlier had led to reduction in average capacity utilization of the real sector.
According to Mr Johnson, the performance of the manufacturing sector in Rivers State in the past one year could not be isolated from the general economic outlook and indices in the country.
He said “the economy continues to witness serious challenges as a result of such macro-economic distortions as the problem of high poverty level, poor social services, poor infrastructural development and high youth unemployment among others.”
The secretary blamed the problems on the economy which depended on oil and gas as major national income and presently accounts for more than 80 per cent of the nations export earnings.
Johnson also posited that the capacity of the manufacturing sector to create wealth through the creation of jobs had continued to decline over the years, thus contributing to the unemployment malaise in the country.
Corlins Walter