{
  "id": 16682249,
  "title": "ALTERNATIVE ENERGY IS REVIVING SMALL BUSINESSES",
  "url": "https://urgent.news/2026/10/26/alternative-energy-is-reviving-small-businesses",
  "topic": "world",
  "section": "World",
  "published": "2026-10-26T23:43:26.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/10/27/alternative-energy-is-reviving-small-businesses/"
  },
  "original_language": "en",
  "account": "Across Nigeria, alternative energy is revitalizing small businesses, cutting expenses, generating jobs and paving new paths for economic growth. From roadside phone chargers to solar-powered viewing centers, hotels and restaurants, entrepreneurs are finding innovative ways to tackle persistent electricity issues. For many business owners, access to alternative power is no longer a luxury, but a vital lifeline. Rechargeable lights, portable power stations, solar panels, inverters and battery storage allow businesses to operate longer, serve customers better and lessen reliance on costly petrol and diesel generators. For years, inconsistent electricity and rising fuel prices have limited Nigeria's micro, small and medium-sized enterprises (MSMEs). Many entrepreneurs have wrestled with shrinking profits, disrupted operations, and high generator maintenance costs. Alternative energy is alleviating these pressures, enabling businesses to reinvest some savings into expansion, better services and improved staff welfare. One significant, yet often overlooked benefit is the potential to boost employee earnings. When businesses spend less on fuel and electricity, entrepreneurs can increase salaries, provide incentives, enhance working conditions or hire more workers. While the extent of these benefits varies, lower energy costs give business owners more flexibility to reward employees and maintain a stable workforce. The effects are widespread. Solar-powered irrigation systems help farmers irrigate their crops, particularly during dry seasons, while solar refrigeration allows traders to preserve perishable goods like food and fish. Viewing centers can play movies without frequent interruptions, while hotels, restaurants, retail stores and cybercafés can maintain essential services more reliably. The renewable energy sector is also creating new opportunities. It generates demand for solar installers, technicians, equipment distributors, and maintenance providers, creating jobs and encouraging youth entrepreneurship. As Nigeria moves toward a cleaner energy future, the Federal Government has taken steps to promote investment in renewable energy. Financing initiatives through the Bank of Industry (BOI) and programs supporting solar adoption show how development finance can expand access to renewable energy. Tax breaks on eligible equipment can also make solar installations more affordable. However, the high upfront costs of installing solar systems, replacing batteries, and purchasing quality equipment still pose a challenge for many small businesses. Expanding affordable financing, improving product quality standards, and offering technical support could help more entrepreneurs reap the benefits of these solutions. Nigeria's energy transition should be seen as more than just an environmental goal; it's an economic development strategy. Reliable and affordable power boosts productivity, safeguards livelihoods, and enhances business competitiveness. Ultimately, every solar-powered shop, rechargeable barber's clipper, illuminated roadside stand, and irrigated farm represents an opportunity to build a stronger, more resilient economy. With continued government support and increased private-sector investment, alternative energy can help Nigerian businesses move from survival to sustainable growth, while creating jobs, improving staff welfare, and giving business owners the means to reward their hardworking employees.",
  "summary": "Across Nigeria, alternative energy is breathing new life into small businesses, reducing operating costs, creating employment opportunities and opening new pathways for economic growth. From roadside phone-charging outlets and barbershops",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}