LCCI worried over deteriorating power supply

Lagos Chamber of Commerce and Industry has expressed deep concern over the deteriorating power supply, saying it is suffocating the nation’s industrial sector.

The Chamber Director General, Muda Lawal, in the chamber’s economic report said most business in the country are now spending as much as 15 to 25 per cent of their operational costs on the alternative source of electricity.

It says businesses are dying daily through the poor supply of power and low purchasing power of consumers.

The chamber calling for the stoppage of the dependence of power generation on gas supply from the Niger Delta region, said the rising costs of petrol and diesel is suffocating businesses.

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