Workers fear for jobs as employers groan over soaring costs.
For employers in the chemical and non-metallic […] The post Workers fear for jobs as employers groan over soaring costs appeared first on Vanguard News .
By Victor Ahiuma-Young The growing cost of keeping factories operational in Nigeria is emerging as a major threat to industrial stability and employment, as employers struggle with rising electricity bills, multiple tax obligations, high borrowing costs and the uncertainties surrounding access to foreign exchange and essential production inputs.
AGM: Executive Secretary of the Chemical and Non-Metallic Products Employers Federation (CANMPEF), Olorunfemi Oke; Trustee, S.
Tella; President, Devakumar Edwin; First Vice-President, Rotimi Aluko; and Guest Speaker, Oscar Macaulay, at CANMPEF’s 46th Annual General Meeting (AGM) in Lagos. For employers in the chemical and non-metallic products industries, the challenge extends beyond declining profit margins. The mounting cost of production is making business expansion, equipment modernisation and sustained investment increasingly difficult, raising concerns about the long-term capacity of companies to maintain existing operations and protect jobs. The situation has brought the question of job security into sharper focus, with manufacturers facing the difficult task of balancing rising operational expenses against the need to sustain production, meet financial obligations and maintain their workforce.
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