Nigeria persistently faces power outages due to frequent national grid failures, adversely impacting businesses and the socioeconomic well-being of families, exacerbated by the elevated electricity costs from independent power sources. The study examined three objectives: assessing grid failures and their economic ramifications, investigating the role of renewable energy in alleviating frustrations and identifying hurdles to renewable energy. A quantitative study approach was utilised, employing simple random sampling to select 5000 participants (businesses and households) in Lagos and Ogun states. The research indicated that corporate expenditures increased significantly due to recurrent national grid failures, which led to reliance on alternative power supply. It was discovered that renewable electricity sources significantly have the potential to exacerbate frustrations arising from inconsistent electricity supply. The study highlighted that significant obstacles to renewable energy integration in Nigeria include high setup investment prices, insufficient technical expertise, absence of legislation mandating integration, inadequate understanding of advantages, and limited access to technologies. Consequently, to tackle the electricity problem in Nigeria, incorporating renewable energy offers a feasible strategy to alleviate the detrimental impacts of grid failures while promoting environmental and economic advancement. Therefore, it recommended that the government establish mandatory renewable energy integration, public awareness campaigns, subsidised finance mechanisms, training for a competent technical workforce, and scalable public-private collaboration initiatives.