BUSINESS DAY
Tiny generators known to power the homes of the least wealthy households and shops of the smallest businesses in Nigeria’s commercial capital, Lagos, have gone out of reach for many amid a rapid price surge.
“I better pass my neighbour,” the phrase used to describe the generators, now make their owners not only better than his neighbour but the entire neighbourhood.
The price of the generators, a vital household appliance in Africa’s most populous nation, due to unreliable public power supply, has jumped 40 percent to N140,000 this year from N100,000 in February 2023.
In the last two decades the price of the tiny generators, with less than 1KVA capacity, has surged more than tenfold from N10,000, showing how hyperinflation and other factors are putting basic commodities out of the reach of many Nigerians.
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