Small business owners in Lagos spend N5.3 trillion annually on fueling generators – Report

Oct. 11, 2024 - Nairametrics

Micro, small, and medium enterprise (MSMEs) owners in Lagos State spend a staggering N5.3 trillion annually on petrol and diesel to power their businesses through generators.

This is contained in a recent report by Sustainable Energy for All (SEforALL) which focuses on advancing the Energy Transition in Lagos State, and by extension, Nigeria. Transition to RenewablesMeanwhile, the report highlights a growing awareness of solar energy among businesses in Lagos, with 80% acknowledging its potential benefits.

Despite this shift, the report shows that only a small fraction—3% of these businesses—have made the transition to solar energy as a primary power source. This interest indicates that, with proper incentives, financing options, and awareness campaigns, the adoption rate of solar energy could improve significantly.

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