Benson Abalogu, Chairman of Filterland Industries Nigeria Limited, has emphasized that steady Power Supply is important for industrial growth and employment generation in Nigeria. Abalogu, who has remained in business due to his acquisition of a dedicated Electricity line, called on the government to provide Infrastructure such as security, good road networks, and low-interest loans to Small and Medium Enterprises (SMEs) to support local manufacturers. Abalogu revealed that the challenges faced by manufacturers, including high production costs and competition with foreign products, have led to the closure of many businesses or their relocation to neighboring countries, resulting in job losses in Nigeria.
He highlighted the importance of a steady power supply, citing that it is the major reason why many Manufacturing companies have closed down or relocated. “Without steady power supply, no manufacturing company can survive in Nigeria,” he said. Despite the challenges, Abalogu’s company, Filterland Industries, has remained afloat and has even expanded its operations, employing over 2,000 workers. He attributed this success to his resilience and the dedicated electricity line, which has provided a constant power supply.
Border closure helped local businesses thrive, he says.
“We have been consistently managing it because it is not easy to remain a manufacturer in Nigeria with the challenges we confront,” he said. Abalogu also emphasized the need for government support, including the provision of infrastructure and low-interest loans, to enable SMEs to thrive. He expressed optimism that with steady power supply and government support, Nigeria can achieve industrial growth and generate employment opportunities. “If they come to me, I will sell almost half the price to them, but they prefer importing. I know that later things will be fine,” he said, highlighting the need for local manufacturers to be patronized.
The closure of land borders by the previous administration did not affect Abalogu’s business negatively, as his products are moved directly to other countries through the nation’s seaports. However, he acknowledged that border closure is an opportunity for local businesses to thrive if there is functional infrastructure in the country. Abalogu also mentioned that sourcing raw materials for production is challenging, especially with the current exchange rate. “We patronize the Black Market like others. Because we did LC last two years and our money is stocked in the banks, even though they are releasing some of it to us,” he revealed.
Concerns about the impact of insecurity in business.
Additionally, Abalogu expressed concern about the Insecurity in the country, which makes it difficult to get expatriates to join his business. “Any place you go to seek expatriates to join you, they will remind you of insecurity in Nigeria as the major reason they won’t come,” he said. Meanwhile, Abalogu is hopeful that Filterland Industries will attain greater heights in the next 10 years, despite the challenges. “I believe in moving forward and being diligent in what I’m doing, and God will take care of the other things,” he said.
Furthermore, Abalogu’s success story serves as a beacon of hope and inspiration to other entrepreneurs and manufacturers in Nigeria. It demonstrates that with unwavering determination and resilience, businesses can thrive despite the numerous challenges that abound. His commitment to providing employment opportunities and contributing to the growth of the Nigerian economy is not only commendable but also a testament to his dedication to the development of the country. Abalogu is not only empowering individuals but also contributing to the reduction of Poverty and Unemployment in the country with his platform that provided employment.
Related Article: Poor power supply affects fish industry
In all, Abalogu’s emphasis on steady power supply and government support for local manufacturers highlights the need for a different approach to address the challenges facing Nigeria’s industrial sector. The provision of steady power supply will enable manufacturers to operate efficiently and effectively, reducing the cost of production and increasing productivity. Government support in the form of low-interest loans, Tax incentives, and infrastructure development will also go a long way in promoting the growth of the industrial sector.