A world investment report conducted by the World Bank on the investment climate in Nigeria, which focused on 26 states in the country, revealed that 4.3 per cent of sales in the manufacturing sector was
lost as a result of power failure.
Lead Private Sector Development specialist at the World Bank, Mr Michael Wong, who presented the report in Abuja yesterday, called for urgent implementation of policies that would boost economic development in the country and arrest the situation.
The report also x-rayed some of the challenges confronting the growth of small businesses in the country and identified lack of funding, insufficient power supply, and corruption as some of the key factors militating against the economic growth of the country.
....Somebody should wake up!
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