Diesel burning away profits, Animal Care president tells FG

The president and Chief Executive Officer, Animal Care Services Konsult Limited, Mrs Olufunmilayo Agbato, has charged the Federal Government to urgently ensure a regular supply of electricity to industries and firms in the country, saying buying diesel to run companies is eating away their profits.

She gave the charge in Ogere Remo, Ogun State, at the inauguration of an ultra-modern feed mill tagged: “The Aiyedun Plant”, named after her husband and founder of the company, Dr Olatunde Agbato, to mark his 71st posthumous birthday.

Mrs Agbato said lack of electricity supply has been robbing “every manufacturer of the joy of doing business,” noting that 85 per cent of the challenges militating against businesses in the country will be solved with regular electricity.

“As these generators burn diesel, it is like burning money. They burn away our profits and sometimes also part of our capital. If our electricity problem is solved in this country, 85% of the problem that we manufacturers are facing will have been solved. As a result, the economy will take a giant leap.

“Epileptic and unreliable power supply has almost rendered the business of feed milling uninteresting in our nation. Why should we have petroleum dumps in feed mills? At Animal Care, we have three of them. What would we need diesel dumps for when we are not into the oil and gas business?” she asked.

While commending the Central Bank of Nigeria (CBN) for its timely maize intervention initiative which made the grains available to feed millers and poultry farmers, she asked the CBN to do more in that area, adding that the problem was far from being solved.

“For the continued running of projects like this, we need grains. And unless the prices of grains come down and grains are made available all year round, it will remain difficult to build a sustainable livestock industry.

“Another important point is security. The security situation is too demoralizing. In fact, it is so scary that as I am talking to you today, those of the poultry value chain have become prime targets for kidnappers and bandits.

“While others may be running to the cities to escape insecurity, we farmers cannot. Please help us by scaling up security around the business of food production,” she said at the event that was attended by the Akarigbo of Remoland, Dr Babatunde Ajayi.

Responding to the plea from Mrs Agbato, Ogun State governor, Prince Dapo Abiodun, said he has set up a committee to, among others, carry out a power audit of industries to look at the demand and the supply figures.

The governor, who was represented by the Commissioner for Trade, Industry and Investment, Mrs Kikelomo Longe, said findings by the committee would guide his government in the plan to plug the gap to continue to make the state investment destination.

She said the government was keen to addressing infrastructural challenges to ensure companies focus on their core mandate of production of goods rather than sinking huge resources into generating their own electricity.

Earlier, the Asiwaju of Remoland, Chief S.K Onafowokan, commended Mrs Agbato and the children for sustaining what he called a legacy of honour, hardwork and professionalism.

Commenting on the multibillion naira feed mill, Onafowokan tasked founders of businesses to always carrying their spouses and children along in the running of the business to ensure perpetuity, saying it took a lot of “boardroom courage and manoeuvring to translate this vision into reality.”

Dignitaries at the event included the Bishops and clerics from the Methodist Church, representatives of chief executives offices First Bank, Union Bank and First City Monument Bank and others.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

We Have Not Had Water Supply In Months ― Abeokuta Residents

In spite of the huge investment in the water sector by the government and international organisations, water scarcity has grown to become a perennial nightmare for residents of Abeokuta, the Ogun State capital. This report x-rays the lives and experiences of residents in getting clean, potable and affordable water amidst the surge of COVID-19 cases in the state…Diesel burning away profits  Diesel burning away profits

Selfies, video calls and Chinese documentaries: The things you’ll meet onboard Lagos-Ibadan train

The Lagos-Ibadan railway was inaugurated recently for a full paid operation by the Nigerian Railway Corporation after about a year of free test-run. Our reporter joined the train to and fro Lagos from Ibadan and tells his experience in this report…Diesel burning away profits Diesel burning away profits