Participants at The Leverage Conference have urged the government to address the severe impact of rising electricity bills on small and medium-sized enterprises (SMEs) across Africa. Business leaders highlighted how these escalating costs are stifling the growth of businesses, especially smaller enterprises.
Adebukola Adeogun, CEO of Bukola Neville Ltd, spoke at the conference in Lagos, stressing that high power costs are a significant barrier to business expansion. “Outrageous electricity bills have become a major challenge for businesses trying to thrive and expand. If the government truly wants entrepreneurs to be successful, they must address this issue urgently,” Adeogun stated.
The conference, aimed at aspiring entrepreneurs, focused on identifying and leveraging business opportunities. Adeogun also shared how her company is making an impact through corporate social responsibility (CSR) initiatives, which include empowering over 5,000 women quarterly. Recently, her company partnered with Access Bank to train 33 women in fashion design, providing them with critical skills to succeed in their ventures.
Obasanjo Fajemirokun, founder of Braceup The Young Academy and keynote speaker at the event, expressed concerns over the Federal Government’s policy barring individuals under 18 from taking the West African Senior School Certificate Examination (WASSCE). He argued that this restriction could limit Nigerian students’ ability to compete internationally, where age plays a role in certain opportunities.
Fajemirokun’s organisation, BTY, is involved in initiatives such as ‘Edu-Girls Nigeria’, a program that uses football to enhance girls’ confidence and academic performance. Additionally, BTY has worked to renovate classrooms in underserved communities, reflecting its commitment to improving educational access.
The conference emphasized the need for government intervention on critical issues like energy costs and educational policies, which continue to impact business and societal growth.
