Umuahia Chamber of Commerce, Industry, Mines and Agriculture UCCIMA has expressed the fears that the electricity tariff hike would pose the risk of higher operating expenses for businesses, particularly the small business owners.
Aruoma said that the increase in electricity tariffs would impose additional financial burdens on businesses, especially small and medium enterprises (SMEs), which have over the years, remained the backbone of the nation’s economy.
He warned that the hike of the tariff might hamper potentially the ability of investors to invest in innovation and expansion, and also impede their competitiveness in both domestic and international markets.
The UCCIMA boss, joined calls by recent bodies to call on the government to engage in constructive dialogue with stakeholders, including business associations to find collaborative solutions that address the concerns of both energy providers and businesses.
