Big businesses benefiting
Every dispensation always has who it favors. Even in this current drastic Nigerian economy, there are people who are enjoying the regime be it legally or unethically. Such is life, consider the fact that there are always leakages which introduces opportunities. Life is more like the financial market which is made up of ups and downs. One man gets displaced and it introduces an opportunity for another man to thrive.
Coming back to the field of business, the early birds are catching the warms. I just went to ask the price of a monogramming machine I have been eyeing over the years. It has been one and a half or two years NOW and the price has kicked from N2 million by then to N8 million. Of course the price of service has increased in the process.
When I went to ask how much I knew that guys are making huge gains considering when they bought. Even at current prices, there is still room for profit just that we can't afford such a price tag as a growing business. That was why we couldn't afford t at N2 million in the first place. Of course big businesses always have a huge level of benefit.
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That was just to add up, my concern today is about how the current electric bill regulation has been to the advantage of big businesses at least in my surrounding environment. The expenses on running business daily has been on the high. Since the hike in petrol pump price in the current regime it has been one heck of a ride for businesses. The prices of every petroleum product is above N1000 naira currently. PMS is at N1030 and diesel is selling at N1200.
This is a big challenge, how much money should businesses be spending least in a day to have enough electric supply?. Let's say some big businesses that operate up to 16 hours a day will have to spend on 16 litres of petrol daily. Ok let's say, the general light sets in for 6-8 hrs daily. This to them is still a huge expense as they are left to still spend on the remaining hours. Adding to that, they will still have a monthly general electric bill to settle. There will be a high cost of servicing this generator since it is being used regularly.
There has been a transformation in the electrical sector I must admit starting from last year and there has been a huge step up in this industry this year. Our environment is expected to have at least 20 hrs electric supply daily which started from January 1st. Let's just hope they keep to this promise because we are currently seeing it manifest. The steady light is continuing and the monthly billing has increased for both prepaid and estimated bill users.
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A lot of people in the environment are complaining about the price hike. The fact is that ALL these people are those that are using light in their homes. They may feel they are not consuming that much especially those in the estimated meter. Yet this remains a big opportunity for big businesses in our environment. Having 20 hours of light daily is a game changer. This was what I just discussed with my copartner this morning, when you know how to convert energy to money, you are at the winning side presently.
Why do you think I am pushing to hit heights in the world of business? I told him that the only solution is expanding our customer base and making the most of this present opportunity. More energy equals more money and it is also cutting down huge expenses in the process. The estimated bill seems to be the most favorable at the moment. I wrote in one of my recent article that we are working on switching from the prepaid to the estimated at least till further adjustment, it is currently not giving us enough power time.
To conclude, let me add, I am seeing opportunities opening for businesses to thrive despite the harsh economy, big ones will enjoy this steady light more. The current bill increment is not in any means shaking them when a company knows how much they will have to spend in the absence of steady general electricity. Of course things are still on a high side yet this cost cutting opportunity is a must to adapt to those who spend time on the right mathematics.
I am switching too to make the most of every expense difference to push business. The focus how is how we will expand our customer base to push in more service rendering. In the absence of this, we will find ourselves in the red zone when making our monthly account. We must realize a tangible profit daily so as to have enough to pay for the estimated energy even ahead of time to avoid any inconvenience by the electric officials.
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