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Increase in Electricity Tariffs Could Negatively Impact Ease of Doing Business in Nigeria

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Electricity Tariffs,Ease Of Doing Business,Nigeria

The Abuja Chamber of Commerce and Industry (ACCI) expresses concern over the recent increase in electricity tariffs, stating that it could have a negative effect on the ease of doing business in Nigeria. The President of ACCI, Mr Emeka Obegolu, highlights the potential impact on businesses across various sectors, particularly Small and Medium Enterprises (SMEs), which are crucial to the country's economy.

, has expressed concern over the recent increase in electricity tariffs, saying it could negatively impact on the ease of doing business in Nigeria.

He expressed worry that the Small and Medium Enterprises , which are crucial to the country’s economy, would be greatly affected by the hike in tariff. Highlighting the importance of electricity in businesses, Obegolu said that any disruptions or cost increases associated with electricity supply could lead to higher operational expenses.

“Many enterprises are already struggling with reduced demand, supply chain disruptions, and financial constraints. The burden of higher electricity tariffs exacerbates their challenges and threatens their long-term viability. “Through fostering open communication, promoting transparency, and adopting policies that facilitate business growth and competitiveness, we can create an environment conducive to sustainable economic development and prosperity for all.

 

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