Nigeria’s power sector lost N487bn in 11 months of 2018

Data from the Office of Vice President, Prof. Yemi Osinabajo, indicated that between January 1 and November 30, 2018, Nigeria’s privatised power sector lost a total of N487.504 billion revenues due to constraints which included shortage of gas; grid unreliability and distribution limitations.

The data obtained from the Advisory Power Team in Osinbajo’s office, showed that for this period, the average volume of electricity generated and distributed daily to Nigerian homes and offices was 3780 megawatts (MW) per day, while an average of 3041MW was constrained from getting to consumers by these limitations.

Coming at a time the Nigerian Electricity Regulatory Commission (NERC) has approved 115 private firms to participate in procuring and installing meters to electricity consumers in Nigeria under its new scheme, the Meter Assets Provider (MAP), the industry data equally explained that the total volume of gas supplied by the Nigerian National Petroleum Corporation (NNPC) to gas power generation plants in the country for the 11-month period was 227,706 million standard cubic feet (mmscf).

Source: THISDAY

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