Lagos:The Manufacturers Association of Nigeria (MAN) is set to hold an energy summit aimed at addressing the high energy costs faced by manufacturers. Dr Ifeanyi Okoye, President of MAN, announced at a news conference in Lagos that the summit will explore affordable power solutions, financing options, and energy-efficient technologies to help reduce operating costs for manufacturers.
According to News Agency of Nigeria, the 2026 Manufacturers Energy Security and Energy Efficiency Summit will focus on reducing industrial energy costs, improving access to affordable gas, promoting energy efficiency, and mobilizing financing for alternative power solutions. Dr Okoye highlighted the challenges posed by high electricity tariffs, unreliable supply, and dependence on expensive alternative energy sources, which have been undermining industrial productivity and competitiveness.
The summit will also explore strengthening energy infrastructure, diversifying industrial power sources, and deepening public-private partnerships to promote sustainable manufacturing. Nigerian manufacturers reportedly spent approximately N1.35 trillion on alternative power generation in 2025, a significant increase from N1.11 trillion in 2024, reflecting the financial burden on factories supplementing unreliable grid electricity.
Mr John Aluya, Chairman of Manufacturers Power Development Company Ltd. (MPDCL), noted that access to affordable financing is a major obstacle for manufacturers seeking to switch to alternative energy. He emphasized the need for substantial investment to convert existing machinery to accommodate different energy sources and called for improved accountability among electricity distribution companies.
Mr Oweh Mba-Sam, Acting Managing Director of MPDCL, mentioned that the summit would explore opportunities for deploying solar panels on factory rooftops, integrating battery storage, and expanding access to gas-powered systems. Discussions will involve oil and gas companies, energy providers, and financiers to explore ways of improving gas access and reducing costs.
Mr Segun Ajayi-Kadir, Director-General of MAN, stated that the summit aims to bring together manufacturers, policymakers, energy providers, and investors to address constraints affecting industrial production. He urged the government to hold electricity distribution companies accountable for service obligations, noting issues with the expected electricity supply for Band A tariff customers.
The energy summit is scheduled for November 3 and November 4, with the theme “Innovative Energy for Cost-Effective Smart Manufacturing with Structured Financing.”