Nigeria: The impact of electrical power on businesses.
Electricity can be generated from different sources such as gas, water, wind, etc. It alters the lifestyle and movement of people as most business activities are done with it.
In Nigeria, electricity seems to be a far-reaching dream as for several decades her people are still generating power for their own personal use with the help of power generating sets and solar energy panels despite the annual budget approved for power generation by her government.
Businesses have resolved to alternate sources of electricity like running or generating sets powered with diesel or fuel in order to remain sustainable for the prompt delivery of their products and services to serve their customers.
Though the government of Nigeria has made provision for proper power generation across the nation by privatizing the power sector and it seems her efforts aren’t enough to meet the demands of its ever-growing population with diverse interests.
There has also been increasing in electricity tariffs on household and industrial consumers by the Nigerian government with the gesture of making more power readily available to its users.
Nigeria needs to adopt new technologies to ensure there is a constant supply of electricity to her populace to avoid the shutdown of economic activities and reduce the loss of lives that could result from the erratic electric supply in facilities like in the health care industry and minimize wastages in food production outfits.
Electricity is the air to sustain businesses next to human capital regardless of its costs.