The Manufacturers Association of Nigeria (MAN) has reiterated its call for a lower electricity price that was recently increased and approved by the Nigerian Electricity Regulatory Commission (NERC) for distribution companies (DisCos). The 250% increase is worrying for manufacturers.
At a media event before their 2024 annual meeting, MAN’s Director General, Segun Ajayi-Kadir, said that the price increase is too much for manufacturers to handle. He pointed out that the federal government gave a 50% discount to universities and hospitals, showing that the increase is too high.
Ajayi-Kadir said, “NERC and DisCos made a mistake by increasing the price by 250%, which no manufacturer can handle.
The government’s discount for universities and hospitals shows that manufacturers should also get some help, since they create many jobs, pay a lot of taxes, and help with exports.”
