Inflation: FG needs to save small-scale industries – Industrialist

Inflation: FG needs to save small-scale industries - Industrialist
Inflation: fg needs to save small-scale industries - industrialistDr Khamis Badmus, the Chairman of Tuns Farms in Osun,  has appealed to President Bola Tinubu to fast-track policies that would control the high inflation in the country in order to save small-scale industries.
Badmus, who is also the Asiwaju Musulumi of Yoruba, Edo and Delta; made the appeal while speaking with newsmen on monday in Osogbo.
According to him, small-scale industries are currently passing through tough times due to inflation and high electricity tariff.
“People who are in production sector are passing through a lot now. They have invested billions of naira in their businesses but with little or no returns due to inflation.
“Many industries have started relocating due to the harsh business environment,  but for some of us, we don’t have anywhere to go.
“And that is why we are appealing to the federal government to fast track policies that will reduce inflation as well as electricity tariff in the country,” he said.
Badmus, who said that he had to shut some sections in his farms due to high electricity tariff, said his monthly electricity bill had  increased from N5 million to N15 million on a monthly basis.
According to him, this is affecting  production which will eventually lead to downsizing of the workforce in both major and small-scale industries.
Badmus, however, said that with the promise made by the president that the pain was just for a while, he believes that the economy would soon improve.