Abbas Yushau Yusuf
Insecurity and lack of purchasing power has caused industries in Kano and Jigawa axis to lose 300 Billion Naira yearly.
The chairman manufacturers association of Nigeria Kano Jigawa axis Sani Hussein dropped the bombshell in an exclusive interview with NIGERIAN TRACKER in Kano.
He said myriad of problems are seriously affecting revenue generation in Kano Industries and top among them is banditry that ravaged Northwestern states of Katsina,Zamfara and Sokoto.
Power Outage :In 3 Month 100 Industries Shut Down In Kano
He said the purchasing power of their business partners have drastically reduced because of insecurity that affected the states.
According to Sani Hussein most of those patronizing them can not go to the farm due to the recurring problem and they can not travel to make purchases.
He pointed out that most of the markets in those states have closed due to the fear of the unknown as a result of banditry.
Another hindrances to the lost of revenue in the industries are high cost of energy due to the rising cost of foreign exchange.
He said for the scenario to change there must be an improved security in the northern states and Nigeria in general.
Another hindrance is also lack of availability of foreign exchange.
He said the estimated loss of 300 billion Naira by the industries in Kano is a yearly palaver which need to be addressed.
Sani Hussein said one of the things seriously negating their operation is the fixed cost where one has to make production for the companies to operate which include servicing,paying staff , maintaining the engines
He added that since the purchasing power has abysmally reduced they also have to reduce production because one can not keep commodities in the store and may decompose.
