That Nigeria’s electricity sector is comatose is not a closely-guarded secret. The electricity supply is as erratic and unstable as usual, not unlike the country itself.
Research has it that Nigeria’s power generation, which is mostly thermal and hydro, has an installed capacity of roughly 12,522 megawatts, yet in reality, it is only able to deliver around 4,500 megawatts to its more than 200 million citizens. According to the International Monetary Fund , Nigeria loses $29bn a year, which is about 5.8 per cent of its Gross Domestic Product, no thanks to a lack of reliable power supply. And because citizens who can afford it would rather find an alternative solution to power issues instead of relying on the government’s empty promises of better days, Nigerians spend around $14bn every year on power generating sets and fossil fuel.
Source: Tech Daily Report (techdailyreport.net)
Darkness and nonworking refinaries are Nigeria's greatest cash cow.
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