NAIRAMETRICS has reported that following the hike in the prices of fuel, there have been a notable decline in the sales of gasoline generator sets in Nigeria.
A survey by NAIRAMETRICS which covered major generator markets in Lagos, reported that all the generator dealers experienced a significant drop in sales.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaA dealer at the electrical section of Alaba International Market, Paul Dike, said that the spike in fuel prices has directly affected sales. He added that even shop owners in the Alaba market have resorted to pooling their resources to generate electricity from big diesel generators, aiming to cut costs.
Paul Dike said, that most of the generators imported by Alaba merchants are now shipped to northern Nigeria or neighbouring West African countries.
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According to NAIRAMETRICS, some areas in Lagos and eastern Nigeria have reported improved power supply over the past two months, contributing to the reduced demand for generators.
A major importer of generators at the Lagos Trade Fair, Samuel Chikeleze lamented that his sales have dwindled significantly.
Previously, he would import two or three containers of generator sets, which would be sold within a month.
He said, “People are just not coming to buy as they did any longer. Lagos buyers just seem to be on vacation. Most of our sales now are either toward the northern part of the country or in neighbouring countries. The high price of fuel is really taking a toll on us generator sellers.”
Gozie Nwachukwu, a dealer in Ogba, Lagos, echoed similar sentiments, stating that it appears people are no longer enthusiastic about buying petrol generators.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaHe noted that business was thriving in the past, but it has significantly declined in recent weeks due to the high cost of fuel. Many Nigerians, he added, can no longer afford to buy fuel, leading to decreased usage of their generators.
“I cannot buy N2,500 fuel that will last just four hours. How many times in a month will I do that when I need money to feed my family? Let the generator rest for now,” said George Orsu, a resident of Surulere in Lagos.”
Nairametrics reports that they confirmed that there is less incentive to use their generators due to the high cost of fuel.
Moses Egwu, who lives in Alimosho Local Government Area said, “I will make sure that my rechargeable lights are always charged, nothing more, nothing less.”
Chinagorom Okoye, also a generator repairer in Igando, Lagos, also stated, “Before now, I would go home with up to N10,000 after the day’s work; but I hardly take more than N2,000 home over the past one month.”
