George Onafowokan, the managing director of Coleman Technical Industries Limited, has warned that high gas prices are undermining Nigeria’s industrial ambitions.
Speaking in an interview with Josephine Okojie-Okeiyi, Onafowokan stated that the current cost of gas is acting as a barrier to the country’s industrial growth and the overall competitiveness of local manufacturers.
The CEO’s warnings highlight the critical tension between national energy pricing and the strategic goals of the manufacturing sector, which relies heavily on affordable gas for both power and raw materials.
According to the BusinessDay interview, the cost of energy remains a pivotal factor in whether Nigeria can successfully transition toward a more robust industrial economy.
The position taken by Coleman Technical Industries suggests that without a review of gas pricing, ambitions to drive local production and reduce import dependency may remain unattainable for many companies operating in the country.
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