Business Businessman Bemoans Weekly Loss of N1.8m Due to Epileptic Power Supply

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LequteMan

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Mr Adegoke Bamiboye, Managing Director of GOKMAS Technology Ltd. while speaking with newsmen in Bauchi on Friday said that he lost N1.8 million revenue weekly due to epileptic power supply.

The entrepreneur who produces Axis Premium laundry soap said his plant could produce 2, 520 cartons of laundry soap weekly with guaranteed returns of N3.8 million at N1,500 per carton, provided there was constant power supply.

"But due to constant power outages, I have to rely solely on my generator set with which I can produce only 1,260 cartons weekly, which is 50 per cent of the 2,520 cartons production capacity.

"As a result, I make only N1.8 million revenue, instead of the N3.8 million revenue I can make in one week.

Bamiboye urged the Federal Government to improve on power supply to enable entrepreneurs make good returns on their investments and remain in business.

He said that competition and cost of inputs were other challenges affecting entrepreneurs.
 

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