Manufacturers feel the heat of rising energy costs

The sharp rise in energy costs has had a profound effect on Nigerian manufacturers, especially as power has now become one of the most significant contributors to production costs. In 2024 alone, the national grid has collapsed eight times, compounding the energy crisis. Petrol prices have surged by nearly 100 percent, now selling at about N1050 per litre, while diesel prices have also appreciated considerably. As a result, manufacturers reliant on both the national electricity grid and fuel generators have faced unprecedented increases in t