Alarm Over Relocation of Companies to Ghana

Ibadan — Members of the Lagos State House of Assembly have expressed concern over the relocation of manufacturing industries from the country to Ghana due to lack of incentives and the acute power problem in Nigeria.

This was brought to the attention of the House under Matters of Urgent Public Importance by Sanai Agunbiade, chairman, House Committee on Commerce and Industry.

According to Agunbiade, manufacturing companies in Nigeria are already folding up, to relocate to Ghana and take advantage of the liberal investment incentives there.

He stated that the implication for the state is high unemployment rate and increase in criminal activities.

While attributing the development to constant power outage, he added that "manufacturers in Nigeria are crying over the power situation in the country which is the real bane of our manufacturing sector.

"I think Lagos State Government should call on the Federal Government to allow us implement the Independent Power Project (IPP) and distribute power to industrial areas, because Lagos would be most affected by these movements of industries to Ghana ".

While lending her voice, Deputy Chief Whip of the House, Lola Akande, advised that such a concession should be given to all states to avoid mass movement of people into Lagos.

Contributing to the debate, Chairman, House Committee on Finance, Adeola Olamilekan, said it is high time the Federal Government decentralised Power Holding Company of Nigeria (PHCN), because huge funds injected into the body has not yielded anything.

Ibadan — Members of the Lagos State House of Assembly have expressed concern over the relocation of manufacturing industries from the country to Ghana due to lack of incentives and the acute power problem in Nigeria.

This was brought to the attention of the House under Matters of Urgent Public Importance by Sanai Agunbiade, chairman, House Committee on Commerce and Industry.

According to Agunbiade, manufacturing companies in Nigeria are already folding up, to relocate to Ghana and take advantage of the liberal investment incentives there.

He stated that the implication for the state is high unemployment rate and increase in criminal activities.

While attributing the development to constant power outage, he added that "manufacturers in Nigeria are crying over the power situation in the country which is the real bane of our manufacturing sector.

"I think Lagos State Government should call on the Federal Government to allow us implement the Independent Power Project (IPP) and distribute power to industrial areas, because Lagos would be most affected by these movements of industries to Ghana ".

While lending her voice, Deputy Chief Whip of the House, Lola Akande, advised that such a concession should be given to all states to avoid mass movement of people into Lagos.

Contributing to the debate, Chairman, House Committee on Finance, Adeola Olamilekan, said it is high time the Federal Government decentralised Power Holding Company of Nigeria (PHCN), because huge funds injected into the body has not yielded anything.