This post was originally published on this site.
The African Development Bank says power outages cost Nigerian businesses about three per cent of their annual salesMore than 70 per cent of firms rely on generators because of the country’s unreliable electricity supplyThe bank urged the government to improve electricity and other public services to reduce business costs and boost economic growth
Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy.
Nigeria’s persistent electricity challenges are placing a heavy burden on businesses, with more than seven out of every 10 firms depending on generators to keep operations running, according to the African Development Bank (AfDB).
In its 2026 African Economic Outlook report, the bank revealed that frequent power outages are costing Nigerian businesses about three per cent of their annual sales.
Nigeria’s Power Crisis Costs Businesses Billions as 70% Depend on Generators – AfDB ReportSource: UGC
The report highlights how unreliable electricity supply continues to raise
