By Tony Ezike
A former gubernatorial aspirant and prominent business leader, H.E Dr. Ike Oligbo (Ike Umuoji), has decried Nigeria’s worsening electricity supply, warning that the persistent power crisis is crippling businesses across the country on an “industrial scale.
”In a statement issued to the press in Awka, Dr. Oligbo expressed deep concern over what he described as the “diabolical” state of power supply, revealing that even his own businesses and investments have not been spared from the devastating effects.
The respected entrepreneur painted a grim picture of the challenges faced by small and medium-scale enterprises, noting that many are struggling to survive amid erratic electricity and the soaring cost of alternative energy sources such as petrol and gas.
“I have received numerous appeals from small-scale business owners seeking financial assistance due to the lack of reliable power supply and the recent hike in the prices of petrol and gas,” he said.Dr. Oligbo lamented that the situation has become unbearable for many entrepreneurs, with several businesses shutting down as operational costs continue to skyrocket.
“It is heartbreaking to watch businesses fold up because it is nearly impossible to make any meaningful profit under the current conditions. The high cost of energy, especially electricity and fuel, has made sustainability a distant dream for many,” he added.
He described the situation as both “unsustainable and unacceptable,” stressing that the country cannot continue to ignore the suffering of its citizens. According to him, the lack of decisive action from those in leadership raises serious concerns about the future of Nigeria’s economic stability and the survival of indigenous businesses.
Dr. Oligbo called for urgent and pragmatic interventions to address the nation’s power challenges, emphasizing that reliable electricity is critical to driving economic growth, job creation, and national development.
He further urged the government to prioritize reforms in the power sector, warning that failure to act swiftly could lead to a deeper economic crisis and the collapse of more homegrown enterprises.
