Manufacturers spend N76.7b on power generation in six months Inadequate electricity supply remains a huge challenge to manufacturers, accounting for their huge investment in self-energy generation, which stood at N76.7 billion in the second half of last year.
Manufacturers’ cost of self-energy generation increased from N45.04 billion in the corresponding half of 2021, indicating N31.66 billion or 70 per cent increase over the period.
According to Manufacturers Association of Nigeria (MAN) ‘Bi-annual Economic Review’ for the second half of 2022, it also increased by N8.9 billion or 13 per cent when compared with N67.8 billion recorded in the preceding half.
This document, which was made available to The Nation, presented the summary of the survey of the manufacturing sector by MAN for the second half of last year.
The survey was designed to monitor changes in manufacturing sector performance indicators viz-a-viz the behaviours of macro-economic and policy environments during the period of the survey.
The focus manufacturing indicators include capacity utilisation, production value, inventory of unsold products, level of utilisation of local raw materials, investment, expenditure on alternative energy source.
MAN, in the survey, said electricity supply to the industries from the national grid declined marginally to 11 hours per day from 12 hours recorded in the preceding half.
