The Nigerian Electricity Regulatory Commission (NERC) has called on the World Bank to reconsider its investment strategy for off-grid power in Nigeria, citing concerns about the impact on local manufacturers. According to THISDAYLIVE, the call was made during a stakeholders meeting on powering manufacturing in Nigeria. The report states that 30% of the Manufacturers Association of Nigeria’s (MAN) members are currently off-grid, with 25% planning to exit the grid altogether. The high costs of self-generation, which MAN estimates at N1.3 trillion ($3.2 billion), are a major factor in these decisions. The World Bank’s current strategy is to invest solely in off-grid power, which NERC believes may not be the best approach for Nigeria’s unique circumstances. The World Bank has not yet responded to the call. This development highlights the ongoing challenges in Nigeria’s power sector, particularly for manufacturing companies, and the need for innovative solutions to ensure sustainable and affordable power supply.
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