Advertisement
Top officials of the bank spoke on Wednesday at a ‘World Bank Dialogue with Energy Reporters’ with the theme ‘Fostering Knowledge-Sharing and Dialogue on Power Sector Issues in Nigeria’, in Abuja.
Presenting the bank’s Power Sector Recovery Program (PSRP) fact sheet, Ashish Khanna, World Bank’s practice manager, West and Central Africa energy, said majority of Nigerians are reluctant to pay their electricity bills because the bills are not “transparent and clear”.
“Businesses in Nigeria lose about $29bn annually because of unreliable electricity. Nigerian utilities get paid for only a half of electricity they receive,” the report read.
Chineme Okafor writes that in addition to its perennial low-level efficiency, Nigeriaâs power sector had the COVID-19 pandemic to deal with in 2020
On December 27, three days before the curtains finally draw on 2020, data obtained from the office of the vice president, Prof. Yemi Osinbajo, revealed that the average volume of power generated and distributed to Nigerians from the national grid within the year was 4,045 megawatts (MW) daily, about 264MW more than the 3,781MW that was reported the same time in 2019.
Similarly, an average of 3,644MW could not get to the grid daily within the year while N640 billion was unearned as a result of the sectorâs inefficiencies.