Managing Director (MD), Prince Interior Furniture and Furnishing Company Limited Amb. Emeka Egwuekwe
By Ekunkonye Junior
The Managing Director (MD), Prince Interior Furniture and Furnishing Company Limited, Amb. Emeka Egwuekwe has accused the elites of being responsible for the woes and economic hardship Nigerians have been passing through, even as he hailed the Minister of the Federal Capital Territory (FCT) Barr Nyesom Wike for scintillating performance so far .
The industrialist addressed journalists on President Ahmed Tinubu’s one year in office.
He said: “As an experienced and reputable politician, who should know too well how to tackle the elites, on the issue of corruption, President Ahmed Tinubu shouldn’t have thought of removing the subsidy at once, because it is like stopping a baby from from breast feeding at a very tender age, without adequate milk put in place. Before going into that, he should have gone into investigation, to find out if Nigeria is subsidizing for other countries, individuals or even for Nigerians.
“Outcome of the investigation would make some Nigerian National Petroleum Corporation Limited (NNPCL) officials to go down. That some people are feeding from the subsidy isn’t an allegation, because, during the time of former President Goodluck Jonathan, a legislator was shown in a camera, illegally collecting money from an oil mogul, all in the name of subsidy.”
He continued: “As an industrialist and giant in furniture manufacturing, this concerns me a lot, because the high price of materials, has been transferred into the price of our products and as such, nobody patronized is due to the high price. The foam we used to buy at N52 thousand during Buhari’s regime is sold to us at N180 thousand and a set of upholstery we used to sell at N350 thousand, we sell at N1.2 million now. The workers we used to pay N30 thousand per month, are now being paid N60 thousand, to enable them have a take home at the end of the month and people are not buying them and that is how it is affecting us.”
Also attributing the continued epileptic power supply and increase to its tariff to the work of the elites, saying the condition of the sector has gone from bad to worst. “There is no energy supply from the government. What we use is gas, which has been causing a lot of money in the process of production. We plan to meet Mr President, to discuss the way forward, but due to the issue of strike, we had to shift it to July. So we want to let Mr Preside know that the process of production is very high, so as to find a solution to that.
“I heard that there is an executive Bill that food items, drugs, that is medicals and raw materials shouldn’t be taxed which is very good. But we should look inwards, to checkmate importation, because the more you give the people the opportunity z the more they go into excess importations, without productions and engaging into exportation .
“We should also encourage production of what we can produce, instead of importing those ones we can produce. But those ones we can’t produce, we import.But to avoid unfavourable ballance of trade, we shouldn’t allow our importation to exceed our exportation,” he advised.
Inviting the government agencies to form the habit of patronizing manufacturers of Nigerian goods, he said: “After visiting senate president to that effect and in this a year of Mr President stay in office, nothing has changed, because they are still buying foreign furnitures. If there is any difference, you will see us smiling to the bank, and because of non patronage and high cost of production, we may soon sack some of our workers and should this continue, don’t be surprise that this place is closed up.
“National Assembly and other government agencies are still buying and using foreign furnitures, among others. Last time, I heard Mr President ordering that the Ministries, Departments and Agencies (MDAs) should be buying and using made – in – Nigeria goods. This is a good one and if it is done, you will see the economy growing, but if it didn’t, some of us may close up, be ause I can’t continue to manufacture what I can’t sell.
Hailing Mr President and Wike for performance in the area of roads, among others, he had this to say: “In area of roads, I give kudos to Tinubu and Wike, because most of the roads, including the one from Asokoro to this area of business has been completed and commissioned. However, I urge them to extend such services to satellite towns, for them to feel the impact of Abuja too.
On the importance.od encouraging local manufacturers, he stated thus: “We are assisting the government in the area of employment. Prince Interior has above 70 staff and if there is no improvement, the company shall sack some of them, because I know what it isn’t easy to pay salaries . We heard that the organised labour was demanding that N494 thousand as minimum wage and if it is taken, those of us in the informal sector will collapse, because we can’t pay that. Mr President is sincerely trying all he can to address the economy, but it isn’t easy. To me minimum wage shouldn’t be above N70 thousand or N80 thousand, will affect informal sector, which will result into closing of some companies and loss of employments.
