Manufacturers seek 30% green tax credit to cut energy costs

The Manufacturers Association of Nigeria, through Director General Segun Ajayi-Kadir, is urging the federal government to offer a 30% green investment tax credit to companies investing in renewable energy and hybrid power systems. Manufacturers’ spending on alternative energy rose 20.72% in 2025 to 1.34 trillion naira, from 1.11 trillion naira in 2024, while diesel often cost between 1,500 and 1,800 naira per litre. Ajayi-Kadir also called for transparent gas pricing that prioritises domestic supply and urged NERC to enable industrial clusters to buy electricity directly from generation companies. The association says these measures would lower production costs and reliance on generators while improving local industry’s competitiveness.