According to the African Development Bank (AfDB), Nigerian businesses are losing around three percent of their annual sales due to persistent electricity outages. The AfDB's 2026 African Economic Outlook report indicates that more than 70.7% of firms in Nigeria rely on generators to maintain operations, significantly raising their operating costs. This reliance on self-generated electricity not only increases expenses related to fuel and maintenance but also diminishes competitiveness and encourages some businesses to operate outside the formal economy to avoid regulatory costs. The AfDB attributes these electricity challenges to broader structural issues and urges the Nigerian government to enhance public services, particularly in electricity, healthcare, and water supply. This improvement is essential for reducing the financial burden on businesses and fostering economic growth. In response to these challenges, President Bola Tinubu has established an 11-member committee to create a Grid Asset Management Company aimed at improving electricity transmission in Nigeria.