Business can't survive in Nigeria without generators, says Adesina
President of the African Development Bank , Akinwumi Adesina has faulted the lack of reliable power supply as an obstacle to Nigeria's industrial growth.
27 October 2021President of the African Development Bank, Akinwumi Adesina has faulted the lack of reliable power supply as an obstacle to Nigeria’s industrial growth.He said this on Tuesday at the 49th annual general meeting of the Manufacturers Association of Nigeria in Abuja.
Adesina stated that Nigerians spend $14 billion yearly on generators and fuel. He also quoted a report by the International Monetary Fund which stated that Nigeria loses $29 billion annually, about 5.8 per cent of its Gross Domestic Product due to a lack of reliable power supply.
He said, “Today, no business can survive in Nigeria without generators. Consequently, the abnormal has become normal,” Adesina said.“Traveling on a road one day in Lagos, I saw an advertisement on a billboard which caught my attention. It was advertising generators, with the bold statement “we are the nation’s number one reliable power supplier!” headtopics.com
The former minister of Agriculture also noted the various challenges affecting manufacturing in the country stating that reliable power supply is a major challenge. Read more: The Punch Newspapers »
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Mugu so you're supporting generator instead of talking how to get permanent light in the country 🙄. Soon all of you will dance the dance of shame. 🤨 Thief in bowtie. That's why i can never support any govt empowerment program because there is nothing to leverage your business on. The electricity bill is high, cost of space rent is high. If you dare think of loan the interest rate and conditions will chase you away.
That's the more reason the fund spent on NEPA is a waste why you funding NEPA again It’s called d Ease of doing Business. Generators r so ubiquitous such that d President gropes in d dark without them in Aso Rock. Oga since u left, govt is even more clueless with daily survival of limb & property being priority. Businesses save 4 ransom incase kidnap of 🔑 staff
Most locally produced products are cheaper than their imported counterparts. Nigeria’s manufacturers don't have to use generators, yes, but the greatest challenge their products are facing in the market is poor quality. Quality has nothing to do with whatever source of power. Generator makers must be very please that there's a country called Nigeria. Without us, they'd be out of business. Our foolishness is there gain.
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We don’t need it all we need is electricity
No Business Can Survive In Nigeria Without Generators – African Bank President, Adesina | Sahara ReportersAkinwumi made this submission on Tuesday, while speaking at a meeting organised by the Manufacturers Association of Nigeria (MAN) in Abuja. Its no news to Nigerians He isn't thinking about electricity, that's how we grew up to accept nonsense as normal. What happened to electricity
No Mr Adesina, it won't survive because it will still be killed by Nigerian govt even with generator.
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