Sugar: Nigeria risks losing African market over high production costs
” Highlighting Nigeria’s cost disadvantage, he said: “Industrial electricity costs about eight US cents per kilowatt-hour in Vietnam, 10 cents in China, 15 cents from the grid in Nigeria and about 30 cents when manufacturers depend on diesel generators.“We should introduce an annual State Industrial Competitiveness Index that publicly ranks states on power, land, levies and logistics, while the Nigeria First procurement policy must be enforced at federal and state levels.”Bakrin added: “We need industrial power at eight to 10 cents per kilowatt-hour, single-digit lending rates and port clearance below seven days, instead of the current 18 to 21 days.
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