An energy expert says business owners in Nigeria are bearing the biggest pain of unstable power supply following the frequent collapse of the national grid.
Reacting to the recent collapse of the national grid, Joseph Obele who is a national spokesperson for the Petroleum Retailers Association of Nigeria, expressed deep concern about the power challenges across the country. He lamented that while other countries prioritize consistent power supply due to its positive impact in businesses, the condition in Nigeria are different.
He further explained that leadership in developed countries are intentionally strategic by doing everything possible to create conducive attractive business environment but the contrary is the case in Nigeria. He also said that at the moment that power supply has failed, business owners in Nigeria can not even afford to buy diesel or fuel for self generated power. Diesel and fuel is sold above N1200 per liter as such it is difficult for business operators to make profit by generating self power.
Dr. Joseph Obele added that lack of regular power supply will not only stifle businesses but also hinder the emergence of new market, explaining that according to the World Bank it discloses that businesses in Nigeria suffer an annual loss of 29 billion dollars as a result of unreliable Power supply. Stressing that outside the adverse effect of poor electricity on business, it has also hampered the creation of new market as new market are created when energy power supply is stable, adding that with a stable power supply, individuals will be able to set up new business where they can earn income for their families. Dr also. Obele states that investors are not coming to Nigeria because of failure to supply steady light because foreign investors consider availability of power especially the manufacturing industries. He stressed that the business world values power supply as one of the main factors to be considered before establishing an industry even if it is a service firm.
Meanwhile, residents of Rumpokwu community in Obio/Akpo LGA says resistsnce blackout is nagetively impacting in their daily lives. They said while Nigerians supply electricity to neighbouring countries with salien options, our country wallow in darkness.
