Alternative energy to maximize MSMEs potential in Nigeria – Experts

Experts in the energy sector have lamented that businesses in Nigeria are not maximising their potential in terms of productivity and income generation. The worst hit, according to them, are the MSMEs. According to SMEDAN and the National Bureau of Statistics, there are over 37 million (Micro -36,994,578; Small – 68,168, and Medium – 4,670) enterprises in Nigeria and they account for more than 84 per cent of jobs in the country.

It is also estimated that MSMEs account for about 48.5 per cent of the country’s gross domestic product (GDP) and about 7.27 per cent of goods and services exported out of the country. The CEO of Climate Transformation and Energy Remediation Society, Smart Chukwuma Amaefula, lamented that almost all MSMEs powered their businesses with generators in the face of erratic national power supply.

A study carried out by the group on pushing off-grid renewable for MSMEs showed that power supply is pivotal to the growth of MSMEs in Nigeria. While noting that with the current erratic power supply in the country, finding a reliable, affordable and clean alternative for MSMEs in Nigeria is not only important but exigent. The study recommended that the Federal Government takes deliberate measures on putting pragmatic policies in place to drive solar penetration for MSMEs in the country.

Source: Daily Trust

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