Nigerian manufacturers bemoan insecurity in North-East

• Ajayi-Kadir noted that manufacturers are now spending more on securing their assets than they are on paying taxes to government authorities

The Manufacturers Association of Nigeria (MAN) stated that insecurity has driven 60% of its members in the troubled North-Eastern region of Nigeria out of business.

Segun Ajayi-Kadir, the Director-General of MAN, revealed this during an interview on Channels Television’s Sunrise Daily on Tuesday.

Ajayi-Kadir noted that manufacturers are now spending more on securing their assets than they are on paying taxes to government authorities.

He said, “Insecurity is a major challenge. We lost between 56 to 60 percent of our members in the North-East to insecurity. They just stopped production.

“insecurity is a disincentive to manufacturing activities,” he added.

“Some of us pay for security more than the taxes that we pay because it (security expenses) has to be on a continuous basis.”

The MAN director-general said the cost of security and the increasing cost of energy continue to add to the production of manufacturers which translates to high prices of goods in the country.