Business
Firm Laments Lack Of Govt Patronage
Alind Nigeria Ltd, the
government-owned electricity cables and conductors manufacturing company, in Bauchi, has said that poor patronage by the owners had impacted negatively on its growth and profitability.
The Managing Director of the Company, Dr Ahmad Mai-Abba, made the assertion on Monday in an interview with newsmen in Bauchi.
According to him, Bauchi State after the privatisation of the company in 1995 owns 25.5 per cent of the shares, Gombe State 12.5 per cent, while the investing public controls 62 per cent of the equity.
Mai-Abba said the two states which currently have 42 staff on the company’s payroll, have refused to patronise its products but instead buys similar products from other companies.
“Unfortunately, as I have told you sometimes ago, you will see that in spite of the fact that the place is established by the two states, they have refused to patronise the products of the company.
“There is no reason why there is no patronage by the two governments, if they are sincere; there is no reason why they will go and buy the products of other companies,” Mai-Abba said.
He said that “the two major consumers of similar products happens to be the two state governments, either directly or indirectly.
“Let them be fair to us and patronise their own products, we are not asking them to give us money, but patronage”.
Mai-Abba said the company had resorted to payment of half salary to its staff and deviated from signing of contracts to enable it survive the harsh business situation.
“We have a reasonable business partner; one Indian organisation which is the major importer of copper and aluminium.
“We collect raw materials without signing any agreement, we process, sale and make little margin that has kept us up to this time.
“On the other hand, the individual shareholders are afraid, they are always afraid that as far as the government has a hand in the business, they will not risk their money,” he said.
Mai-Abba also said the inability of other shareholders to inject more funds stemmed from the fear that the company operated like an agency of government.
“The presence of government is scaring away our shareholders though there has been no interference, but there have been negligence on the side of the two governments by not patronising their own products,” he said.
The managing director said the company established in 1980 with Alind of India as technical partners had an installed capacity of 20 kilometres of cables and 20 kilometres of assorted conductors per day.
He asserted that the high capital intensive nature of the industry made it difficult for the company to operate with a little over N3 million working capital.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.