Summit
The Manufacturers Association of Nigeria (MAN) says its forthcoming energy summit will explore affordable power solutions, financing options and energy-efficient technologies to reduce manufacturers’ operating costs.
Dr Ifeanyi Okoye, President of MAN, said this at a news conference in Lagos on Monday ahead of the 2026 Manufacturers Energy Security and Energy Efficiency Summit.
He said the energy summit would hold on Nov. 3 and Nov. 4, with the theme “Innovative Energy for Cost-Effective Smart Manufacturing with Structured Financing”.
According to him, the summit will focus on reducing industrial energy costs, improving access to affordable gas, promoting energy efficiency and mobilising financing for alternative power solutions.
Okoye said high electricity tariffs, unreliable supply and dependence on expensive alternative energy sources have continued to undermine industrial productivity and the competitiveness of Nigerian manufacturers.
He said energy costs consume a significant portion of manufacturers’ resources, limiting their ability to expand production, invest in technology and compete effectively with counterparts in other African countries.
According to Okoye, the initiative will also explore ways to strengthen energy infrastructure, diversify industrial power sources and deepen public-private partnerships to promote sustainable manufacturing.
Nigerian manufacturers spent about N1.35 trillion on alternative power generation in 2025, up from N1.11 trillion in 2024, according to figures previously reported by MAN.
The expenditure reflects the financial burden on factories forced to supplement unreliable grid electricity with other power sources.
Mr John Aluya, Chairman of Manufacturers Power Development Company Ltd. (MPDCL), said access to affordable financing remained a major obstacle to manufacturers seeking to switch to alternative energy.
Aluya said converting existing machinery to accommodate different energy sources required substantial investment, while high borrowing costs and short repayment periods made such transitions difficult for many businesses.
He also raised concerns about the cost of gas, saying manufacturers needed more favourable pricing to make gas-powered production economically viable.
Aluya called for improved accountability among electricity distribution companies, saying manufacturers needed a reliable power supply to justify the cost of grid electricity.
Mr Oweh Mba-Sam, Acting Managing Director of MPDCL, said the summit would examine opportunities to deploy solar panels on factory rooftops, integrate battery storage and expand access to gas-powered systems.
He said combining solar power with battery storage could help manufacturers reduce dependence on diesel generators while maintaining production when sunlight was unavailable.
Mba-Sam added that discussions would involve oil and gas companies, energy providers and financiers to explore ways of improving gas access, reducing costs and making funding available for industrial energy projects.
He said the summit would also consider how advances in battery technology and energy management could support more efficient and cost-effective manufacturing.
Other areas to be addressed include climate finance, carbon credits, decentralised electricity systems, net metering and the emerging state-level electricity markets.
Mr Segun Ajayi-Kadir, Director-General of MAN, said the summit would build on the association’s ongoing advocacy by bringing manufacturers, policymakers, energy providers and investors together to address constraints affecting industrial production.
He said the engagement was also intended to attract investment into industrial energy infrastructure, facilitate access to technological solutions and contribute to policies that would improve the manufacturing environment.
Ajayi-Kadir urged the government to hold electricity distribution companies accountable for meeting their service obligations, noting that some manufacturers paying Band A tariffs did not receive the expected supply.
Under Nigeria’s service-based electricity tariff framework, Band A customers are entitled to a minimum of 20 hours of electricity supply daily, while Band B customers are entitled to at least 16 hours. (NAN)(NAN)
ARM/FAA
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Edited by Folasade Adeniran
Source: News Agency of Nigeria
