Nigeria’s continuing power supply issues are significantly impacting its economy, affecting industrial production and growth. The country’s power sector struggles with inadequate electricity generation and distribution, leading to frequent outages and insufficient coverage for industries and households.
These power challenges hamper industrialisation efforts, limiting productivity and economic development. Businesses are forced to rely heavily on costly alternative energy sources like diesel generators to sustain operations, increasing operating costs and making Nigerian industries less competitive in the global market.
Additionally, the unreliable energy supply is deterring potential foreign investors, who seek stable infrastructure to mitigate business risks. The power crisis stands as a critical barrier to economic progress, necessitating urgent infrastructural improvements and reforms within Nigeria’s energy sector to foster growth and development.
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