THE inability of the Federal Government to meet the target of 10,000 megawatts (mw) for 2013 has been described as a move that would further reduce investors’ confidence and increase the cost of business operations in the country.
Though the government has shifted the target date, which it earlier set to generate 10,000 mega-watts from December this year, to the first quarter of 2014, the Lagos Chamber of Commerce and Industry (LCCI) doubted government’s ability to meet the target.
The chamber believed that the target set by the government is not feasible given the current progression on the reform and the sustainability of the underlying assumptions.
Besides, the new electricity tariff introduced by the Nigerian Electricity Regulatory Commission (NERC) has increased industrial cost across the country by 440 per cent.
The Nigerian Association of Small and Medium Enterprises (NASME), in a survey made available to The Guardian, discovered that operational cost of industries has increased by over 440 per cent since the introduction of the metering scheme.
Minister of Power, Prof. Chinedu Nebo, alongside the Minister of State, Zainab Ibrahim Kuchi, described the power outage being experienced in the country as a national embarrassment, saying that over 120 million Nigerians are currently without electricity supply, leaving only an estimated 40 million Nigerians with electricity.
A survey of 138 companies from the six geopolitical zones (Abuja, Bauchi, Calabar, Kaduna, Lagos and Owerri) conducted by NOI Polls Limited for the Nigerian Association of Small and Medium Enterprises, showed that the new tariff has been having negative effect on their businesses.
The survey-covered companies operating in the Micro, Small and Medium Enterprises (MSMEs) within various sectors such as manufacturing, construction, computer sciences and technology, engineering services, hospitality, among others. Sectors surveyed showed that the new electricity tariff is hitting them hard as their operating cost have increased by 440 per cent since the inception of multi-year tariff II (MYTO II)
Though the government has shifted the target date, which it earlier set to generate 10,000 mega-watts from December this year, to the first quarter of 2014, the Lagos Chamber of Commerce and Industry (LCCI) doubted government’s ability to meet the target.
The chamber believed that the target set by the government is not feasible given the current progression on the reform and the sustainability of the underlying assumptions.
Besides, the new electricity tariff introduced by the Nigerian Electricity Regulatory Commission (NERC) has increased industrial cost across the country by 440 per cent.
The Nigerian Association of Small and Medium Enterprises (NASME), in a survey made available to The Guardian, discovered that operational cost of industries has increased by over 440 per cent since the introduction of the metering scheme.
Minister of Power, Prof. Chinedu Nebo, alongside the Minister of State, Zainab Ibrahim Kuchi, described the power outage being experienced in the country as a national embarrassment, saying that over 120 million Nigerians are currently without electricity supply, leaving only an estimated 40 million Nigerians with electricity.
A survey of 138 companies from the six geopolitical zones (Abuja, Bauchi, Calabar, Kaduna, Lagos and Owerri) conducted by NOI Polls Limited for the Nigerian Association of Small and Medium Enterprises, showed that the new tariff has been having negative effect on their businesses.
The survey-covered companies operating in the Micro, Small and Medium Enterprises (MSMEs) within various sectors such as manufacturing, construction, computer sciences and technology, engineering services, hospitality, among others. Sectors surveyed showed that the new electricity tariff is hitting them hard as their operating cost have increased by 440 per cent since the inception of multi-year tariff II (MYTO II)
Read more...
0 comments:
Post a Comment