Deployment of renewable to increase Nigerian MSMEs’ income by $10bn | The Guardian Nigeria News - Nigeria and World News

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There are indications that Micro Small and Medium Enterprises (MSMEs) in Nigeria may increase their revenue by over $10 billion going by the adoption of solar energy to power businesses.

With persistent grid collapse and erratic electricity supply, experts have described as sacrosanct for businesses in the country, the deployment of renewable through off-grid solutions.

The report rated Nigeria’s solar off-grid market as one of the fastest growing in Africa, increasing at a 22 per cent average yearly rate during the past five years. The report noted that Nigerian Primary Health Centres with solar electricity witnessed a 60 to 70 per cent improvement in antenatal care coverage and a 40 to 60 percent reduction in vaccine waste.

In markets that have been powered by solar panels in Nigeria, the study stated that there was a 20 to 40 per cent increase in operating hours of MSMEs and that they avoided the substantial inventory and sales losses resulting from fires caused by generators.

 

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