Stats: 3,190,877 members, 7,942,195 topics. Date: Friday, 06 September 2024 at 11:48 PM |
Nairaland Forum / Nairaland / General / Business / 5 Ways Power Shortage Is Affecting Nigerian Businesses (6287 Views)
Traders Seek ECOWAS Intervention As Ghana Shuts 400 Nigerian Businesses / 5 Ways Power Shortage Is Affecting Nigerian Businesses / 5 Ways Power Shortage Is Affecting Nigerian Businesses (2) (3) (4)
5 Ways Power Shortage Is Affecting Nigerian Businesses by Revolva(m): 5:57am On Jan 28, 2017 |
5 Ways Power Shortage Is Affecting Nigerian Businesses The World Bank data on ease of doing business released this year ranked Nigeria 169 out of 190 countries. Ten sub-indices were used for this ranking such as starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. One sub-indices that many Nigerians can relate with is electricity. Although all Nigerians are feeling the effects, businesses are feeling it more.i identifies 5 ways power shortage is affecting Nigerian businesses. Huge amounts are budgeted for diesel and generator There is no way any business can run smoothly without having a generator notwithstanding if it is a startup or an established business. The budget for generators, diesel as well as servicing these generators is humongous. These monies, if there is no power interruption, can be deployed to other aspects of the businesses. Startups are likely to fail Many young Nigerians have ventured into the uncertain world of entrepreneurship despite the recession. They have satisfied all the constitutional requirements for setting up a business but they have to still a factor in how to provide electricity. Over time, you will observe that some of these great startups are likely to fail due to power shortage. They can only do as much. Businesses cannot employ If electricity can be tackled in Nigeria, the monies companies spend on providing power can be used to employ more Nigerians. This is a part reason why some companies prefer to use contract staff. No room for growth or expansion Growth and expansion are essential to any business. The more businesses spend on electricity, the more they cut back on growth. Combining power shortage with the economic recession, some companies have no choice than to lay off some of their workers. Businesses are moving out Nigeria is the biggest market in Africa. At the same time, it has the biggest challenges. Some of them have decided to continue running their businesses in the country, others have made the decision to move their operations to other countries while maintaining a little presence in the Nigeria. 3 Likes 1 Share |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by Theyveedo(m): 6:40am On Jan 28, 2017 |
I still believe that power outage is our greatest problem in this country 5 Likes 1 Share |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by eezeribe(m): 7:18am On Jan 28, 2017 |
OK |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by jeeqaa7(m): 7:28am On Jan 28, 2017 |
H |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by Pavore9: 7:28am On Jan 28, 2017 |
Nigeria has to be generating at least 9200MW to meet up with where "small" Kenya is presently at. The Political will has never been there over the years to truly increase capacity but all we had was lip service while resources to achieve it is being diverted. 3 Likes |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by Nobody: 7:29am On Jan 28, 2017 |
. |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by kings09(m): 7:29am On Jan 28, 2017 |
Na today |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by Kondomatic(m): 7:30am On Jan 28, 2017 |
A country as old as Nigeria should have stable power, good road and water but what we have is uninterrupted total blackout, horrible roads and expensive water. Back then, water was free and people payed huge sum of money to watch porns but today, porn is being forced on us all for free, even on Nairaland's front page and we pay huge amount to get clean water. 19 Likes |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by rhektor(m): 7:30am On Jan 28, 2017 |
Raji Fashola come hear o |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by Primusinterpares(m): 7:30am On Jan 28, 2017 |
Power like the name implies is the driving force for any business to grow...If only the Nigeria Govt knows this...Emphasis would have been placed on power...then watch other things adding up in dia own accord...if you see the amount of money some industries/firm Pays for power you go cry 4 dis kontri 1 Like |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by libertyfather(m): 7:31am On Jan 28, 2017 |
For all I care once electricity and rail is fixed business will automatically transform for good |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by nony43(m): 7:31am On Jan 28, 2017 |
B |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by devour129: 7:32am On Jan 28, 2017 |
And it all comes back to power ! If there's power , there will be jobs - less people on the street -food - better security i.e. Less crime . It's only stable electricity that will move nigeria forward not a messiah. 1 Like |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by Exponental(m): 7:33am On Jan 28, 2017 |
ff |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by theneweurobiz: 7:34am On Jan 28, 2017 |
FAST FINGER FIRST!!!
|
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by Proudlyngwa(m): 7:38am On Jan 28, 2017 |
Pavore9:This is beyond political will , as long as we keep having square pegs in round holes, Nigeria will not achieve anything. We loose more power via outdated modes of transmission than consumption. 1 Like |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by aguiyi2: 7:38am On Jan 28, 2017 |
One of the major reason why big brother Nigeria production was moved to south africa (but the organisers will not tell you that). 3 Likes |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by hopefulLandlord: 7:38am On Jan 28, 2017 |
interesting |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by omoadeleye(m): 7:41am On Jan 28, 2017 |
Even an illiterate will give you 1million reasons power failure is affecting a company. So STFu |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by forgiveness: 7:45am On Jan 28, 2017 |
Since Fashola said there will be no review of the Power sector, shortage of electricity continues. Why? Estimated bills. It is either Fashola doesn't know or he is pretending not to know. What is estimated bills? Free money without service. These discos owners are making billions without providing services. Who no like better thing? Enforce these extortioners to provide pre - paid meters and una go see American wonder. Light everywhere. I don't know who made agreement with these extortioners but I know he/she did it intentionally to have his/her cut and maybe Fashola is having his share. 1 Like |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by Akposb(m): 7:47am On Jan 28, 2017 |
So on point. Though security is a major issue in relation to some points you mentioned there. |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by Nobody: 7:49am On Jan 28, 2017 |
Any nation is doomed without effective power supply.. Its not magic,its common sense. |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by omowolewa: 8:01am On Jan 28, 2017 |
General Price Increase |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by Pavore9: 8:02am On Jan 28, 2017 |
Proudlyngwa: To have square pegs in the proper holes takes political will that will intrude into the "gains" of vested interests. Take the appointment of the late Dora Akunyili into NAFDAC, it messed up the multi-billion dollar fake drugs business which involved importers, customs officers, the Police, the Judiciary and the distribution networks not to exclude politicians who get their cuts for shielding the criminal activities thus the attempt on her life. Yes, l agree with you we lose so much through transmission. |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by samsamgo: 8:02am On Jan 28, 2017 |
Na so! Power is the back bone of any business. |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by Nobody: 8:08am On Jan 28, 2017 |
How come we the citizen know all these, yet the government don't know? Are the government not part of the citizen ![]() 2 Likes |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by akigbemaru: 8:15am On Jan 28, 2017 |
Naija Nepa |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by MVLOX(m): 8:19am On Jan 28, 2017 |
True |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by folahann(m): 8:23am On Jan 28, 2017 |
Bottom line is that it increases cost thereby reducing profit. All others are after effect. |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by lakesider(m): 8:24am On Jan 28, 2017 |
Nairaland is just waking up after several years of MMM and snake stories |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by Proudlyngwa(m): 8:25am On Jan 28, 2017 |
Pavore9: Square pegs in round holes is not always political. A good case is man know man in many appointments, institutions, what we need is digitalising and referencing transparency. 1 Like |
Re: 5 Ways Power Shortage Is Affecting Nigerian Businesses by malakus(m): 8:25am On Jan 28, 2017 |
But what changes has the privatization brought 1 Like |
Advert Rates In Nigeria / How To Run A Profitable Cyber Cafe Business In Nigeria / Nigerian Equities Hit All-time N15.78tr High
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 25 |