The President of the Manufacturers Association of Nigeria (MAN), Mr. Francis Meshioye, has reiterated the determination of the association to push for a reduction in electricity tariffs.
Speaking at the presidential media luncheon in Lagos, Mr. Meshioye, said that he would not stop advocating for a reduction in the electricity tariffs in 2025 as the high costs continue to pose a challenge to manufacturers.
He decried the 250 per cent increase in electricity tariffs that the association earlier petitioned, describing it as “not palatable and not logical”.
He suggested a gradual approach to tariffs adjustments, noting the detrimental impact of the hike on businesses.
“Our next line of action on electricity tariffs is that we will not stop advocating for a reduction,” he said. “I don’t see any logic in having an increase of 250 per cent at a go.
“We believe there should be a roundtable discussion to reduce this tariff. An increase is fine, but definitely not astronomically at 250 per cent. You can always set a timeline to graduate the tariff and achieve that goal,” he said.
Meshioye criticised the government’s lack of responsiveness to MAN’s advocacy and called for constructive engagement to resolve the matter.
“We will not relent in our advocacy to see that this tariff is reduced,” he added.
The Nigerian electricity sector has been unreliable and the alternative energy sources by some manufacturers and institutions of higher learning currently contribute about 6,500 megawatts, exceeding the national grid’s capacity of between 4,000 to 5,000 megawatts.
The sector experienced 12 national grid collapses in 2024 alone and some stakeholders in the energy sector have wondered if the increase of 250 per cent tariff can solve the problems of the sector.
GIK/APA