A renowned industrialist and Chief Executive of Shanghai Engineering Works and Industrial Limited (SEWIL), Mr. Festus Mbisiogu, has sent a Save-Our-Soul to the federal government over the threat posed to industries because of irregular power supply and high cost of diesel in the region.
Mbisiogu, who spoke at the backdrop of consistent epileptic power supply in the south east, said his industries which employ hundreds of Nigerians are in danger of closing down. He also urged for the government’s intervention through palliatives to enable manufacturers to handle the costs.
He said the current costs of diesel have made it difficult to ensure production at this time, as diesel has gone up to N720 and N730 per litre.
“He said: “It has never been like this before. It is becoming extremely difficult to produce and I don’t know how we are going to cope because I am virtually running my industries on diesel.
“I spend over N20 million every month to get my industries running. We are currently running at a loss and we are in danger of laying-off hundreds of workers.
