New Electricity Tariff Will Harm Small Firms, Association Tells Federal Gov’t

The Kano State chapter of the Nigerian Association of Small Scale Industry (NASSI), has called on the Federal Government to rescind its decision to increase the electricity tariff in Nigeria to avoid killing the sector.

Chairman of the association, Aminu Kurawa expressed the concern of the sector while addressing a press conference in Kano on Thursday, saying it is affecting them due to drastic increase in production rates.

Kurawa warned that the effect of the increase in electricity tariff will lead to massive loss of jobs which will in turn escalate the level of insecurity in the country.

“We are deeply concerned about the recent implementation of the new electricity tariff in Nigeria. This sudden increase in electricity prices has placed an unbearable burden on small-scale industrialists who are already grappling with numerous challenges such as high production costs, limited access to credit facilities, and stiff competition both locally and internationally.

“The new electricity tariff poses a significant threat to the survival and growth of small-scale industries across the country.

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“Many of our members operate on thin profit margins, and any additional increase in operating costs, such as electricity tariffs, directly impacts their ability to remain competitive in the market with our international counterparts who are already in our local market.

“The new tariff plan will in essence kill the small-scale industrial sector and wreak havoc in the society including insecurity which is already a huge challenge across the country,” he stated

He finally called on all stakeholders, including the state government, agencies, regulatory bodies and policy makers to prioritise the interest of the small scale industries in Nigeria.

“Our sector plays a crucial role in driving economic growth, creating employment opportunities and fostering innovation. We cannot afford to be stifled by exorbitant electricity tariffs,” he stated.