The Manufacturers Association of Nigeria (MAN) has lamented over poor electricity supply.
The association therefore called for an improved electricity supply to the manufacturing sector to reduce its burden in sourcing for alternative power to remain in business.
It reported that expenditure on alternative energy source increased to N76.7 billion in the second half of 2022 from N45.04 billion recorded in the corresponding half of 2021; thus, indicating N31.66 billion or 70 per cent increase over the period.
The inadequate electricity supply remains a huge challenge to manufacturers, accounting for their huge investment in self-energy generation, which stood at N76.7 billion in the second half of last year.
Manufacturers’ cost of self-energy generation increased from N45.04 billion in the corresponding half of 2021, indicating N31.66 billion or 70 per cent increase over the period.
According to MAN ‘Bi-annual Economic Review’ for the second half of 2022, it also increased by N8.9 billion or 13 per cent when compared with N67.8 billion recorded in the preceding half.
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