Businesses lose $29 billion yearly to poor electricity, says World Bank guardian.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from guardian.ng Daily Mail and Mail on Sunday newspapers.
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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.
Power Supply Subsidy May Gulp N3 4tn by 2023, W Bank Warns thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.