Energy availability is a vital factor for the survival and optimal performance of industries worldwide. Energy deficit poses a serious threat to the optimal performance of industrial processes, industrial growth and economic development of any nation. Nigeria is blessed with abundant natural resources from which energy could be freely harnessed to meet the nation’s ever spiralling energy needs. Owing to various reasons some of which are pin-pointed here, however, Nigeria continues to suffer acute shortage of energy to power the manufacturing sector therefore hindering her industrial and economic development. The study seeks to investigate the impact of energy deficit on the overall equipment effectiveness (OEE) of selected manufacturing firms in Nigeria as well as suggest ways of using OEE to maximise energy and improve productivity. Data extracted from the sampled firms were used in the computation of the Availability (A), Performance (P), Product Quality (Q) and the Overall Equipment Effectiveness (OEE) applicable to each firm. The findings show that Nigeria must adopt vigorous steps to explore and exploit its abundant energy resources in other to achieve her dream of becoming an industrial giant in the nearest future.