Nigeria’s power sector lost about N468.4 billion between January and August 21 this year, the latest documents covering the industry’s performance showed.
According to the documents, the loss was caused by a shortage of gas, transmission limitations, distribution restrictions and other constraints.
In a breakdown of the details, the report showed that in January, the sector lost N56.4 billion in revenue, while in February, its revenues dipped by N54.9 billion and also plunged by N65.6 billion in March this year.
Power sector’s constrained revenues for the months of April were N64.6 billion, and in May N61.6 billion, June N61.8 billion and July, N63.2 billion.
Recall that the Transmission Company of Nigeria (TCN) on August 20 announced that the power industry achieved another improved all-time national peak of 5,420.30 megawatts (MW).
In recent time, the Generation Companies (GenCos) through the Association of Power Generation Companies (APGC) said they have over 13,000 MW installed capacity and 7,600MW presently available capacity to generate power.
While records showed that the Distribution Companies (DisCos) have the capacity to supply 5,500 MW of electricity to the over 10 million registered consumers nationwide, the Association of Nigerian Electricity Distributors (ANED) said the DisCos’ networks can supply over 7,000MW of electricity to consumers if GenCos and TCN provide that power quantum.
