Nigeria In One Minute
Power sector loses N534b in 356 days
Over N534 billion in revenue was lost by the power sector in 2016, according to the Nigerian Electricity Supply Industry (NESI).
Among the reasons for the loss are shortages in gas supply, frequency and line limitations and water levels management constraints that led to several cases of outage in the country.
NESI, which put the average daily revenue loss at N1.5 billion, said gas constraint remained one of the major challenges facing the electricity sector.
The N534 billion is the value of electricity lost on account of the challenges, part of which could have been used to bridge the liquidity gap in the power sector, that is put at N1trillion. Already, the sector is finding it difficult to access more loans from Nigerian banks due to their inability to meet the payment obligations for previous debts. The situation will also affect the capacity of the power firms to improve on electricity supply to consumers for domestic and industrial uses.
The Guardian, January 2, 2017
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JOHNSON PETER
January 2, 2017 at 6:45 am
Nigeria is funny. They won’t ever tell us when the power sector makes gains but they always tell us when they have loses. They better improve power this year.
Joy Madu
January 2, 2017 at 7:32 am
Power will ameliorate when fashola is removed as power minister.
chichi emerue
January 2, 2017 at 10:42 am
So is it fashola that is the hindrance to power? We shouldn’t deceive ourselves, fashola is not the problem of our epileptic power supply. It has been like that before fashola came on board.
seyi jelili
January 2, 2017 at 7:34 am
I knew selling of power to private hands will make no different as that then. Government need to seize control of PHCN again for improvement.
Roland Uchendu Pele
January 2, 2017 at 7:42 am
“shortages in gas supply, frequency and line limitations and water levels management constraints”
Can you imagine these as the problems with power? We couldn’t fix all of these?
Margret Dickson
January 2, 2017 at 9:57 am
Can somebody please tell me what Fashola is doing? He’s been sleeping on Nigeria’s power!
Animashaun Ayodeji
January 2, 2017 at 10:02 am
What the militants are doing are more harmful to the nation than they appear. The shortages in gas supply is as a result of the bombings in Niger/Delta
yanju omotodun
January 2, 2017 at 10:35 am
You are correct and at the same time wrong. Bombings in Niger Delta is as a result of government marginalisation of the oil rich states.