Power consumers, on Wednesday, kicked against the export of about N23.13bn worth of electricity from Nigeria to some neighbouring countries in 2022 despite the widespread darkness witnessed in many Nigerian communities. The latest data on the remittances by international customers, obtained from the Nigerian Electricity Regulatory Commission in Abuja, showed that Nigeria continued its export |
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Published 26 June 2021
The World Bank and the Central Bank of Nigeria are fully providing funds for the estimated six million electricity meters required to close the metering gap in the Nigerian power sector, the Federal Government has said.
It was gathered in Abuja on Friday that both institutions were currently deploying funds to close the gap in order to stabilise the sector and address its liquidity concerns.
Latest document on the overview and progress of Nigeria’s power sector obtained from the Federal Ministry of Power showed that both partners were providing loans to operators in the sector for the procurement of the meters.
W'Bank, CBN fully funding six million meters – FG punchng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punchng.com Daily Mail and Mail on Sunday newspapers.
Power sector loses N59.33bn despite 5,802MW peak generation The Punch
Okechukwu Nnodim, Abuja Between January 1 and March 6, 2021 Nigeria’s power sector lost N59.33bn but posted its highest ever peak generation of 5,802 megawatts during the period.
Documents obtained from the Federal Ministry of Power on the sector’s performance for the months of January, February and the few days in March showed that the industry was still losing billions daily.
This, however, was despite the marginal progress recorded in the production, evacuation and distribution of electricity.
Further findings showed that while the sector’s monetary loses persisted, it also recorded stranded energy continuously during the 55-day period.
Obsolete, substandard meters worry electricity consumers punchng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punchng.com Daily Mail and Mail on Sunday newspapers.