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Okechukwu Nnodim, Abuja
Published 4:21 am
The World Bank on Wednesday said businesses in Nigeria lose about $29bn annually as a result of the country’s unreliable electricity.
It also observed that Nigeria had the largest number of people without access to electricity in the world, as every one in 10 people without access to electricity now reside in Nigeria.
The bank’s positions were contained in the Power Sector Recovery Programme fact sheet which was presented during the World Bank virtual dialogue with energy reporters on Wednesday.
The presentation was done by the bank’s Practice Manager, West and Central Africa Energy, Ashish Khanna. It said, “Businesses in Nigeria lose about $29bn annually because of unreliable electricity. Nigerian utilities get paid for only a half of electricity they receive.
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Nigerian businesses lose $29bn yearly to poor power supply – World Bank
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The World Bank on Wednesday, 21 April, said businesses in Nigeria lose about $29bn annually as a result of the country’s unreliable electricity.
It also observed that Nigeria had the largest number of people without access to electricity in the world, as every one in 10 people without access to electricity now reside in Nigeria.
The bank’s positions were contained in the Power Sector Recovery Programme fact sheet which was presented during the World Bank virtual dialogue with energy reporters on Wednesday.
The presentation was done by the bank’s practice manager, West and Central Africa Energy, Ashish Khanna. It said, “Businesses in Nigeria lose about $29bn annually because of unreliable electricity. Nigerian utilities get paid for only half of the electricity they receive.