By Franklin Alli
…As operating cost soars by 440%
INDUSTRIES across the country have started feeling the negative impact of the new electricity tariff which they say have been eroding their profit margin as operating cost have risen by 440 percent since the new tariff was introduced in June this year by Nigeria Electricity Regulatory Commission (NERC).
INDUSTRIES across the country have started feeling the negative impact of the new electricity tariff which they say have been eroding their profit margin as operating cost have risen by 440 percent since the new tariff was introduced in June this year by Nigeria Electricity Regulatory Commission (NERC).
A survey of 138 companies from the six geopolitical zones (Abuja, Bauchi, Calabar, Kaduna, Lagos and Owerri) conducted by NOI Polls Limited for the Nigerian Association of Small and Medium Enterprises (NASME), showed that the new tariff has been having negative effect on their businesses.
The survey covered companies operating in the Micro, Small and Medium Enterprises (MSMEs) within various sectors such as manufacturing, construction, computer sciences and technology, engineering services, hospitality, among others. Sectors surveyed showed that the new electricity tariff is hitting them hard as their operating cost have increased by 440 percent, since the inception of multi-year tariff II (MYTO II)
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