Eastern, Northern Manufacturers, Businesses Adjust Working Days On Worsening Insecurity
Insecurity in the eastern and the Northern part of the country has forced businesses in the regions to adjust their working days.
This, the Managing Director, Mouka Foam, Femi Fapohunda, said, has affected many companies’ revenue projections for 2022 and also, their bottom line because they have to adjust to the security situations in their business environments.
Fapohunda, explained that the situation has affected all the facets of the economy which currently, are agonising.
The manufacturing concerns are going through difficult times occasioned by the security challenges especially.
in the eastern region where businesses only opened for three days in a week.
In the northern region also, many manufacturing firms businesses and investments are also struggling to stay afloat amidst insecurity that is ravaging the nooks and crannies of the northern states.
To him, the Stay-At-Home order is affecting businesses and trading manufacturing products in these two affected regions and others are stifling transportation of manufactured goods to the locations.
Fapohunda explained: “There is nobody that will say he has not been affected by the security challenges in our country. For instance, in our Eastern region’s bedding business, we actually operate only three days in a week, because Mondays and Tuesdays, some groups of people said you cannot work and open business, so we need to secure our environment. And in the Northern part of the business, we have been struggling because the security situation is tough there. Yes, we know government is doing their best. But as a company and ourselves to also encourage people to safe secure. We prioritize safety in everything we do in Mouka’s.
“We will continue to do much as possible in terms and in regards to that and we will continue to create conducive environment for our business nationwide for growth.”
Adverse impact of insecurity on businesses is felt more in the Middlebelt region that houses Bauchi/Benue/Plateau industrial zones according to the President of the Manufacturers Association of Nigeria (MAN), Mansur Ahmed pointed out that.
Consequently, a number of companies in the zone operated at sub-optimal level, while others have either shut down operations or relocated to a safer environment.
“The companies experienced severe stockout of primary raw materials, particularly agro-allied as most of the farmer had taken to their heels due to insurgency.”
He alluded to the fact that manufacturing and other business activities in the Rivers/Bayelsa zone appears to be struggling with the impact of aggressive drive for internally generated revenue by Government to bridge revenue gaps occasioned by the divesting activities of International Oil Companies from hydrocarbon to
renewable energy sources.
He pointed out that the huge autonomous investment in crude oil business in the zones accounts for the number of induced investment in the area.
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