Engineers: High Cost of Electricity Affecting Building Materials

Kasim Sumaina in Abuja

The Nigerian Institute of Electrical and Electronic Engineers (NIEEE) has lamented the high cost of electricity in the manufacturing sector which it said is affecting building and electrical materials.

This was just as Nigeria’s inflation has maintained steady rise with January inflation reaching 29.9 as reported by the National Bureau of Statistics (NBS). The 21st President of the Institute, Felix Olu, made the disclosure during his Investiture at the weekend in Abuja.

Olu lamented the cost component of power in production and manufacturing sector, which he said was affecting the construction sector and left many projects abandoned.

He said it was the institute’s belief that the cause of the challenge is in power supply because they are unable to have sufficient industries in Nigeria that produce building and electrical materials locally and for the global market and, therefore, import them, which makes the cost of items go up.

“The operational cost in the manufacturing of the few electrical and other building items locally here in the construction sector is also very high and intolerable, which is why many companies are folding up.

“This is why we are calling for urgent intervention, especially in the area of power supply to our manufacturing companies because if you remove the burden of power supply, it will go a long way in reducing cost of production and will as well reflect in the items,” Olu explained.

He added that the institute and other stakeholders had a conference in February where it made viable recommendations to the minister of power, and will be presented to the government soon.