High electricity costs overwhelm South South, South East businesses — Nigeria — The Guardian Nigeria News – Nigeria and World News


[FILES] Electricity workers. Photo/KoborAmos

Consumers to pay more for electricity from January 2022
• ‘Electricity now represents 80% production cost’
• 20 per cent of industries in A’Ibom, C’River have shut down
• Households lament frequent hikes
• MAN calls for urgent intervention

With an average of about N70 billion spent on alternative energy, yearly, by local manufacturers due to poor power supply, many industrial firms and businesses in Southeast and South-south are struggling to sustain their operations, with many already suspending production, a survey by The Guardian has revealed.

According to the operators, the high cost of electricity is taking a toll on their businesses, as manufacturers allege that distribution companies and their cohorts are frustrating the eligible customer initiative.

Similarly, efforts to shift to gas consumption as an alternative source to automotive gas oil (AGO), otherwise known as diesel, have resulted in higher costs of…

Source: Guardian Newspaper