FG to investigate gas suppliers over alleged rip-off of manufacturers

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As part of measures to support the ease of doing business, the Federal Government, last week, pledged to launch an investigation into complaints of N100 million rip-off by gas suppliers, The Sun reports.

Minister of Industry, Trade and Investment, Mr. Okechukwu Enelamah, gave the assurance during a familiarisation tour of industrial establishments in Ogun and Lagos states, which included May & Baker Plc, Fidson Healthcare Pharmaceuticals and Kimberly-Clark Limited, Lagos. The move to investigate gas suppliers, especially the ones servicing the real sector, is coming on the heels of a complaint by the Managing Director and Chief Executive Officer of May & Baker Plc, Mr. Nnamdi Okafor, that his firm paid about N100 million to some of its gas suppliers for gas not utilized between 2014 and 2016.

On his part, Chairman of the Manufacturers Association of Nigeria (MAN), Gas Users Group, Dr. Michael Adebayo, equally advocated a downward review in gas pricing to below $3 under the revised gas policy as well as provide preference for domestic consumers in a bid to revive moribund factories and increase capacity utilization. He noted that the growth of the manufacturing sector is being hampered by the huge energy crisis caused by power outages and high cost of petroleum products, adding that many factories have stopped production due to the exorbitant and dollarisation pricing of gas.