By Yinka Kolawole
The Manufacturers Association of Nigeria (MAN) is set to convene a two-day energy efficiency summit in Lagos to address high energy costs, improve industrial competitiveness and promote investment in alternative power solutions.
Speaking in Lagos, MAN President, Dr. Ifeanyi Okoye, said the summit would bring together industry leaders, policymakers, regulators, technology providers and financial institutions to develop practical solutions to Nigeria’s industrial energy challenges.
The summit, scheduled for November 3 to 4, organised through MAN’s power and energy subsidiary, Manufacturers Power Development Company Ltd (MPDCL), in partnership with the German Development Agency (GIZ) and Nigerian Energy Support Programme (NESP), will hold at Legend Hotel Lagos Airport, Ikeja, Lagos.
With the theme, “Innovative Energy for Cost-Effective Smart Manufacturing with Structured Financing,” the event will focus on industrial energy security, efficiency and cost reduction.
Okoye said high electricity tariffs, unreliable grid supply, fuel price volatility and dependence on expensive self-generation remained major constraints on manufacturers, undermining competitiveness, fuelling inflation and limiting job creation and Nigeria’s ability to maximise opportunities under the African Continental Free Trade Area (AfCFTA).
He said: “To build a resilient, self-sustaining economy, we must address these challenges through a multi-faceted approach by expanding our energy infrastructure, accelerating energy efficiency adoption, diversifying industrial energy sources, and forging deep public-private capital partnerships.”
Also speaking, MAN Director-General, Segun Ajayi-Kadir, said previous summits had provided members with opportunities to engage solution providers, resulting in increased adoption of off-grid energy solutions by manufacturers.
He said attracting investment was a major objective, noting that inadequate investment in the power sector and an unfavourable business environment had constrained capital inflows, particularly from foreign investors.
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