Manufacturers in Nigeria spent a staggering N676.6 billion on alternative energy in the first half of 2025, a cost the Manufacturers Association of Nigeria (MAN) attributed to persistent power supply challenges.
MAN President, Francis Meshioye, disclosed the figure on Wednesday at the 10th Edition of the MAN Media Personality Award and 2026 Presidential Media Luncheon in Lagos, where he highlighted the high expenditure highlights the difficulties operators face due to infrastructural deficits, multiple taxation, regulatory burdens, high energy costs and other structural constraints.
“Manufacturers began 2025 with cautious optimism, but macroeconomic pressures weighed heavily on business sentiment”, Meshioye said.
He added that the Manufacturers CEOs’ Confidence Index dropped from 56 percent in Q4 2024 to 50.3 percent in Q2 2025 before marginally recovering to 50.7 percent in Q3, reflecting an unfriendly operating environment.
On inflation, Meshioye noted that persistent double-digit rates eroded consumer purchasing power and dampened demand for manufactured goods. Despite these challenges, he said the sector showed resilience, with capacity utilisation rising to 61.3 percent from 57.6 percent in late 2024.
Meshioye also acknowledged government interventions, including the suspension of the 4 percent Free-On-Board (FOB) charge by the Nigeria Customs Service and adjustments in port levies, which prevented additional burdens on manufacturers. He called for targeted capital expenditure and supportive policies in 2026 to drive growth in the sector.
Meanwhile, former presidential candidate Peter Obi criticised the Tinubu administration over electricity instability. In a post on his X handle, Obi reminded Nigerians of President Bola Tinubu’s 2022 campaign promise, “If I do not provide steady electricity in my first four years, do not vote for me for a second term”.
Obi pointed out that the national grid collapsed twice in January 2026 alone, with 12 failures recorded in 2025. He contrasted Nigeria’s power situation with Turkey, a country of about 87 million people that generates over 120,000 megawatts of electricity, highlighting the stark gap.
Obi urged the President to focus on domestic governance rather than foreign engagements, warning that critical national issues demand immediate attention.
