See Outrageous Sum Manufacturers Spend Fueling Generators
If you think that your “I pass my neighbour” is digging a hole in your pocket, spare a thought for Nigeria’s manufacturers.
You see, between 2016 and 2017, manufacturers in Nigeria spent a total of 246.38 billion naira generating their own electricity.
This is according to a new data compiled by the Manufacturers Association of Nigeria, MAN.
The data showed that the operators spent 129 billion naira in 2016 and 117.38 billion naira in 2017 on private power generation.
In fact, the data revealed that the manufacturers also spent 43 billion naira on private power generation in the first half of 2018.
While reviewing the performance of the sector in 2018, MAN pointed out that a situation where the cost of electricity constituted 40% of the cost of production was not manufacturing friendly.
It stated: “The challenge of inadequate electricity supply persisted in 2018, worsened by skyrocketing electricity price. Inadequate electricity supply remains a major driver of the cost of production.
“Our survey finding shows a slight improvement in electricity generation and distribution with the challenges coming from obsolete electricity infrastructure, weak transmission and distribution networks.”
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