I pass my neighbor Generator is now N140k
In Lagos, Nigeria, the once-affordable “I better pass my neighbour” generators, vital for many households and small businesses due to erratic power supply, have become prohibitively expensive. Their prices have surged 40% to N140,000 this year, making them unattainable for many. The generators, once a symbol of having a little extra, are now seen as a necessity for survival.
Data from the UN International Trade Statistics Database show that Nigeria has spent $2.4 billion on generating sets in the past 26 years, with the highest expenditure recorded in 2013. The high
cost of new generators has forced people like Hakeem Aliyu, a barber and retailer, to stick with old ones, as buying new ones is out of reach.
According to the Nigeria SME Survey by PricewaterhouseCoopers, electricity expenses are the primary operational cost for many businesses, further highlighting the impact of generator price hikes. Market analysis indicates that compact petrol generators now exceed the N100,000 mark, with some models priced at N145,000.
A report by the Access to Energy Institute forecasts steady growth in the small generator market until 2030, driven by population growth and rising incomes. Nigeria’s reliance on self-generated power, due to persistent power shortages, has made it the highest importer of generators in Africa.
IRENA’s report highlights how Nigeria’s erratic power supply negatively affects both households and businesses, making self-generated power expensive and impacting the economy. As a result, households and businesses spend significantly more on fuel for generators compared to grid electricity, leading to higher costs for consumers and reduced competitiveness for industries.
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