Power shortages hold back business activities in Q2
Insufficient power supply was the major constraining factor to business activities in Africa’s largest economy in the period between April and June, CBN’s Business Expectation Survey (BES) published Thursday reveals.
The survey was carried out with a sample size of 1,950 business enterprises nationwide and a response rate of 99.5 per cent was achieved during the reporting quarter.
Sectors covered include Industry, Construction, Wholesale/Retail Trade and Services.
“Other constraining factors were financial problems, unfavourable economic climate, high interest rate, competition, access to credit and unfavourable political climate and unclear economic laws,” the CBN report revealed.