The Manufacturers Association of Nigeria, MAN, has said signing the Electricity Act 2023 by President Bola Ahmed Tinubu would be a palliative to its
On Thursday, Mr Segun Ajayi-Kadir, Director General of MAN, disclosed this in a statement signed by Ms Chisom Oguezuonu, Executive Officer, Corporate Service Division of MAN.
He said that those problems culminated in erratic electricity supply, frequent power outages and persistent national grid collapses, thereby stunting the economy’s growth. However, he stated that the newly signed Electricity Act 2023 could lead to a drastic fall in the cost of alternative energy and address numerous constraints within the sector.
“The country’s epileptic power supply is one of the prominent reasons for the relocation of some of our members. He also said empowering private manufacturing companies to generate electricity would unleash massive investment in backward integration activities, a significant enabler of energy security within the sector.
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