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Nearly seven in every ten businesses operating in Nigeria own or share private generators to stay afloat amid chronic electricity shortages, with power outages eroding about three per cent of their annual sales, according to fresh findings from the African Development Bank. The disclosure, contained in the AfDB’s 2026 African Economic Outlook report, paints…
The Centre for the Promotion of Private Enterprise has warned that Nigerian businesses face mounting existential threats from the current surge in global energy prices, driven by escalating geopolitical tensions in the Middle East that have pushed crude oil to $100 per barrel and refined fuel above N1,000 per litre. In an advisory note…
