Nigerian businesses spend 60% operating cost on energy — Stakeholders
Stakeholders in Nigeria’s business environment have urged the federal government to tackle the high cost of energy for Micro Small and Medium Enterprises in the country, adding that it is not sustainable for businesses to spend 60 per cent operating cost on energy alone. They made the call in Abuja on Thursday at the Energy […]
Stakeholders in Nigeria’s business environment have urged the federal government to tackle the high cost of energy for Micro Small and Medium Enterprises in the country, adding that it is not sustainable for businesses to spend 60 per cent operating cost on energy alone.
They made the call in Abuja on Thursday at the Energy Efficiency Awareness Campaign for businesses organised by the Abuja Chamber of Commerce and Industry (ACCI) in partnership with WINOCK Group, a diversified conglomerate with subsidiaries in Solar and Agriculture.
The President of ACCI who was represented by the first deputy president, Dr Aliyu Idi Hong said, “One of the most difficult challenges facing businesses today both small and large is power and if government can tackle that businesses will flourish.
“Today about 60 per cent of operating cost of businesses goes to energy so you can imagine what will be left. Therefore when you hear that businesses are collapsing, this is issue,” he said.
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He added that “At ACCI, the mandate is to promote sustainable commerce, business innovation, and economic prosperity. Sustainability and green growth are at the core of our activities. Through Policy and Advocay Center, we actively advocate for sound energy policies that support the transition to a green economy.
Through our partnerships, we connect the private sector with opportunities in green finance, technology, and clean energy solutions,” he said
Also speaking, MR Agbaidu Jideani, Director General of the ACCI, noted that “The campaign is catalysing a shift toward smarter energy use, lower operational costs, and a greener future as the success of our economy is intrinsically linked to how efficiently we utilise energy, particularly within the SME sector.”
In his contributions, Sanmi Lajuwomi, the founder and Group CEO of WINOCK Group, a diversified conglomerate with subsidiaries in Solar, Lending, and Agriculture, said the high energy cost led to establishing a solar company that will subsidise power for MSMEs, addinf that WINOCK Solar, we have provided over 5MW of installed solar capacity for SMEs in Abuja and plans expansion to other states.