By Ashemiriogwa Emmanuel
One of the key players in the Nigerian lubrication and manufacturing industry, Mr Lanre Bhadmus, has lamented that the poor electricity supply in the country was threatening the existence of the sector.
Mr Bhadmus, who is the Chairman and Chief Executive Officer of Lanre Bhadmus Industries Limited, said unless urgent steps are taken to address the issue, Nigeria’s lube industry could go the way of the textile sector.
Many years ago, the textile industry in Nigeria was booming, attracting investors but the poor business environment caused by unfavourable government policy killed the industry and today, it is struggling to stage a comeback.
Speaking with newsmen in Lagos recently, the manufacturer said the poor state of power in the country as well as bad roads, were making it difficult for players to survive.
He said the electricity situation in Nigeria has specifically been a major setback as producers of lubricants are unable to operate efficiently and compete on the global stage.
“Anybody in business today, probably involved manufacturing, would agree that one of the major challenges faced by many players in the industry is the power supply of which is part of the infrastructure,” he informed Business Post and other media platforms at a briefing to commemorate the 50 years of his company in Lagos.
Mr Bhadmus advised the government to unlock financing for power sector investment as this would go a long way in fast-tracking the efficiency of manufacturing companies in the country.
Nigeria, which has the biggest market in Africa, is blessed with many resources to generate power, including large gas deposits, hydro, solar, and even wind sources.
The country, with a population of about 200 million people, relies on roughly 3,500 to 4,000 megawatts of electricity despite spending trillions of Naira to increase the capacity.
Mr Bhadmus said his company is considering renewable energy solutions such as the use of solar plants but was quick to note that this is not for the immediate as it requires huge funds and time.
Lanre Bhadmus Industries prides itself as a leading producer of high-performance lubricants and other car care products. The company has in the market quality products that can do well in the international market.
Adedapo Adesanya 
Modupe Gbadeyanka