Economic Implication of Power Outage in Nigeria: An Industrial Review

This work shows how poor power supply to industrial consumers has contributes to the increase of prices of consumer goods and services in Nigeria thereby affecting the standard of living and thus placing the average citizenry of the present day Nigeria in a pitiable condition. For the purpose of this research, relevant data was collated from various operators for a period of twelve months, the data was analyzed sequentially using spread sheet analysis and results were obtained. From the data it was established that the total monthly cost of generating power from the industry in question is ₦45,811,859, Further results shows that if the power generated by the appropriate power utility is used, there will be a 30% reduction in the cost of generating power thus leading to a corresponding reduction in the prices of goods by the industry. The paper has therefore shown that increase in the cost of power generated often lead to a corresponding increase in the prices of goods and service