Tah sworn in as ninth AfDB president in Abidjan
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The African Development Bank has revealed that 70.7 per cent of firms in Nigeria own or share generators due to persistent electricity shortages, with power outages costing businesses about three per cent of their annual sales.
The bank disclosed this in its 2026 African Economic Outlook report, which, among other items, assessed Africa’s fiscal policy and tax systems. It warned that weak public service delivery continued to impose hidden financial burdens on households and businesses across the continent.
“Electricity outage losses amount to three per cent of annual sales in Nigeria, and because of this, generator reliance is widespread, with 70.7 per cent of firms in Nigeria owning or sharing generators,” the report stated.
