The Organised Private Sector (OPSN), comprising top Business Membership Organisations (BMOs), has warned that over 65 per cent of private businesses, especially manufacturing concerns and SMEs, may be forced to close down due to the over 200 per cent hike in electricity tariff.
The Organised Private Sector , comprising top Business Membership Organisations , has warned that over 65 per cent of private businesses, especially manufacturing concerns and SMEs, may be forced to close down due to the over 200 per cent hike in electricity tariff.
Commending government’s recent efforts to enhance fiscal transparency, they called for accelerated implementation of the right policies to achieve set objectives. Regretting that NERC and the federal government did not consult with them before the increase, they said the sudden exponential increase in the face of inadequate electricity supply is inimical to the competitiveness of Nigerian products and businesses and will exacerbate the impact of the high cost of production.
“In the U.S., UK, Germany, France, China, India, South Africa, Ghana and the Benin Republic, prevailing electricity cost per kilowatt hour are $0.1545, $ 0.3063, $0.53, $0.0573, $0.076, $0.068, $0.0999, $0.123 and $0.195 respectively. The conversion values of the afore-mentioned electricity cost in naira are N191.38, N379.41, N656.50, N70.98, N94.14, N84.23, N64.53, N152.36 and N125.95 respectively.
The International Renewable Energy Agency is seeking a new approach to energy security amidst geopolitical concerns and a push from fossil fuels. The Federal Government has called on oil and gas operators to create ingenious ways of raising capital to expand their investment and tackle myriads of problems facing the sector, especially leveraging the nation's capital market.Publisher, The Guardian Newspapers Ltd, Lady Maiden Alex-Ibru, has called on the government at all levels in the country to remove obstacles besetting the paper industry, to prevent it from total collapse.
Apparently to sanitise the general aviation segment of local aviation, the Civil Aviation Authority Nigeria, yesterday, ordered a three-day ultimatum for all private operators and holders of non-commercial flight permits to submit for a re-evaluation.
NACCIMA NECA Organised Private Sector (OPSN)
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