The Central Bank of Nigeria (CBN) has identified insufficient supply of electricity as the major constraint to business activities in Nigeria.
According to the CBN, the latest survey conducted on businesses in the fourth quarter of 2017 showed that 62.6 per cent of the surveyed firms identified inadequate supply of electricity as a major constraint to their activities.
In the Business Expectations Survey Report for Q4 2017, the CBN stated that the surveyed firms confirmed poor power supply as a key problem, adding that other concerns highlighted by the respondents included unfavourable economic climate and unclear laws.
The bank further noted that insufficient demand, high interest rate and competition were some other constraints to business activities in the fourth quarter of 2017.
