info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
photo from vanguardngr
DISCOs, an electricity distribution companies, has debt disagreement with MAN(The Manufacturers Association of Nigeria). So MAN seeks FG's intervention to end diagreement with DISCOs, which attracts the attention of government.
MAN President Dr Frank Jacobs, who stated this also, said that the condition given by the Nigerian Electricity Regulatory Commission (NERC) was too stringent, as it may not be achieved easily due to the volume of the debt.
He said, “Some of the challenges we have with taking advantage of the stranded 2,000 megawatts of power is that the NERC has continued to insist that MAN members and consumers clear off outstanding debts to the DISCOs.
“However, there have been disagreements on how much is really involved and that has not been resolved to date. The figures reeled out by the DISCOs are too high when compared with what our members claimed they owed.”
He noted that a consensus was reached by both MAN and DISCOs to seek the intervention of the government so as to enable manufacturers to take advantage of the stranded power.
The MAN President also called on the government to create the enabling environment for the private sector to thrive by providing the necessary infrastructure, macro-economic environment and ease of doing business.
“This means providing the necessary basic infrastructure to ensure that the macroeconomic environment is suitable for business to thrive. Business successes are determined by parameters such as exchange rates, interest rates, taxation and ease of doing business and we urge that these factors be addressed to encourage local and foreign investments,” he said.
According to the MAN President, if all these parameters are met, an enabling environment for business to thrive will be automatic and Nigeria will be better for it.
