Stakeholders in Nigeria’s business community have raised the alarm over the crippling impact of high energy costs on Micro, Small and Medium Enterprises (MSMEs), warning that the current trend is unsustainable and threatening the survival of businesses across the country.
They issued the warning on Thursday in Abuja at an Energy Efficiency Awareness Campaign organised by the Abuja Chamber of Commerce and Industry (ACCI) in partnership with WINOCK Group, a conglomerate with interests in solar energy, lending, and agriculture.
Speaking at the event, the President of ACCI, Dr. Al-Mujtaba Abubakar, who was represented by the First Deputy President, Dr. Aliyu Idi Hong, described electricity as one of the biggest obstacles to doing business in Nigeria.
“Today, about 60 per cent of the operating cost of businesses goes to energy. That is not just alarming — it is devastating,” Hong said.
“You can imagine what’s left to pay salaries, reinvest in growth, or even stay afloat. That’s why we’re seeing businesses shut down every day.”
He noted that the situation calls for urgent government intervention, stating that energy challenges are stifling innovation and dragging down productivity in a country heavily reliant on MSMEs to drive economic growth.
“At ACCI, our mission is to promote sustainable commerce and economic prosperity. We’re actively advocating for sound energy policies that will fast-track the transition to a green economy,” he added.
Director General of ACCI, Mr. Agbaidu Jideani, stressed that poor energy efficiency remains a silent killer of Nigerian businesses.
“This campaign is aimed at catalysing a shift — from wasteful energy use to smarter, more sustainable practices.
The future of our economy depends on how efficiently we use energy, especially in the SME sector,” Jideani said.
Also speaking, the Founder and Group CEO of WINOCK Group, Mr. Sanmi Lajuwomi, said the high cost of electricity was the driving force behind the company’s foray into solar power solutions.
“WINOCK Solar has delivered over 5 megawatts of installed capacity for SMEs in Abuja alone. We’re now scaling up to other states to ensure small businesses can access clean, reliable and affordable power,” Lajuwomi revealed.
He said the firm’s mission is to ease the energy burden on MSMEs and help them redirect capital from diesel and generator maintenance into business expansion and job creation.
Participants at the event unanimously called on the federal government to adopt a more aggressive policy shift towards renewable energy and provide access to green financing and incentives for small businesses transitioning from fossil fuel dependency.
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