Companies wey dey Nigerian Exchange spend N400.83bn for alternative energy sources for di first quarter of 2026. Dis one show say di country unreliable electricity supply dey cost businesses plenty money, as companies dey rely more on diesel, gas and other generator power to keep their work going.

Analysis wey The PUNCH do on di unaudited Q1 2026 financial statements of companies wey dey NGX Main Board show say spending on alternative energy rise by 3.66 percent from N386.67bn wey dem record for di same period for 2025 to N400.83bn.

Di analysis still show say companies wey separate their electricity and power expenses record even bigger increase of 81.50 percent, as total electricity cost rise from N3.85bn for Q1 2025 to N6.99bn for Q1 2026. Dis one show di effect of higher electricity tariff and how companies still dey depend on alternative power.

Di figures dey show say energy cost still dey give businesses wahala, even as government dey try to reform Nigeria electricity sector. Manufacturers and big industrial users still dey rely on generator power to maintain their production.

Di review cover 24 companies wey disclose their spending on alternative energy, including diesel, fuel, gas, and other power-related expenses, while 10 companies separately report their electricity and power costs.

Industrial goods companies carry di biggest share of alternative energy spending, especially cement and manufacturing companies wey dey use plenty energy. Oil and gas companies, alongside banks wey get many branches, still dey among di biggest spenders.