Investor Decries Deplorable Infrastructure In Lagos Estates

An investor in noodle products, Mr Chukwudi Uwazie, has decried the deplorable state of infrastructure in industrial estates in Lagos, saying that the situation was driving investors, away from the country.
Uwazie, the Managing Director, HI5 Industries Ltd., said this at the unveiling of the company’s product in Lagos.
He said the infrastructure in Ikorodu, Ilupeju and Ikeja Industrial Estates such as roads, good water and electricity supplies were in deplorable state.
He said the investors were spending huge resources from their budgets to maintain these dilapidated infrastructure and they were eating deep into their capital outlay,
“In Ikorodu Industrial Estate where we operate our factory, there are no good roads linking the estate, the power supply is erratic and there is no water supply.
“Most of the time, our generators work between 15 hours  and 16 hours daily; this is taking a large percentage of our budget.
“We are rebuilding the road leading to our factory to enable us to get our raw materials to boost our production.
“Where there is no water supply, good roads and electricity supply, how do you expect investors to come here and invest.
“We know the country has the market and the potential but all these problems are driving investors away.
“Government should fix them to attract foreign investor and make life convenient for them,” he said.
Uwazie also appealed to state government to provide the necessary amenities in the estates to create conducive environments for investors and residents alike there.