Manufacturers seek 30% green tax credit to cut energy cost

By Yinka Kolawole

Manufacturers have called on the Federal Government to introduce a 30 per cent Green Investment Tax Credit for companies investing in renewable energy and hybrid power solutions, as rising energy costs continue to undermine industrial productivity and push up production costs.

Director General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, in the 2025 Annual Report of the association, said the proposed incentive would encourage manufacturers to transition to off-grid renewable energy and hybrid captive power systems, including solar and liquefied natural gas (LNG), to reduce their dependence on expensive and unstable energy sources.

The...