Manufacturers decry N1.35 trillion in alternative power costs and 18,935 lost jobs

The CANMPEF federation says Nigerian manufacturers spent an estimated N1.35 trillion on alternative power in 2025 and lost 18,935 jobs in the first half of the year. Federation president Devakumar Edwin told its annual general meeting in Lagos that manufacturing grew by just 1.41%, despite improvements in broader macroeconomic indicators. He urged the federal government to lower energy and financing costs, harmonise taxes and support local production. Electricity supply remains a major obstacle, with average generation below 5,000 MW against estimated demand of 18,345 MW.