Economic recession: Businesses are under pressure

In this time of economic recession, government need to put some basic amenities like constant supply of electricity in place in order to reduce the pressure on most businesses in the country. Many businesses in the country are on the verge of collapsing and down sizing seriously in order to reduce cost, especially those that are power driven 
For businesses that are power driven to thrive in this recession period, there must be provision of steady and constant supply of electricity to sustain the business process. Many businesses in the country today are power dependent. The media, oil and gas sector, telecommunications sector, banking sector, manufacturing industries and even SMEs all need uninterrupted power supply to operate effectively. It was once reported that Nigeria is one of the most expensive countries to do business. I quite agree with that because running a business 24/7, 365 days on generator is not funny at all. It is tasking, sapping and quite demanding. The cost of fueling and maintenance alone can wreck a business completely.
The epileptic supply of electricity has really sent many businesses packing. Foreign investors are scared of investing in the country because of poor electricity supply. The SMEs are the most hit by this situation because it hampers their rapid growth and the owners are left to struggle with the business without breaking even. The cost of the running the business on generator takes the entire profit.
The power supply in Nigeria as of today can only serve for leisure purposes such as watching TV, listening to radio etc but definitely not for business. Many power dependent businesses are procedural in nature. Once you start the process the slightest power failure can take you back to square one and you may have to start the entire process all over again. That hinders efficiency and slows down services or production processes. Since steady supply of electricity cannot be guaranteed, most power driven companies prefer to run on generator in order to achieve smooth running of their services or production processes. The consumers are left to bare the brunt as they have to pay through their nose to enjoy some of these services or end product of production.

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