AfDB and Nigeria’s electricity crisis
The power sector crisis is worsening despite huge investments over the years and the appointment of a new minister of power to oversee the challenges confronting the sector. The latest indictment on the sector comes from the African Development Bank (AfDB), which, in its recent 2026 “African Economic Outlook’ Report, revealed that 70.7 per cent of companies in Nigeria depend on generators for their power needs due to persistent electricity shortage. As a result, businesses in the country are estimated to be spending over 3 per cent of their annual sales on alternative sources of power, especially on fuel and…
15th June 2026