Over N534 billion in revenue was lost by the power sector in 2016, according to the Nigerian Electricity Supply Industry (NESI).
Among
the reasons for the loss are shortages in gas supply, frequency and
line limitations and water levels management constraints that led to
several cases of outage in the country.
NESI, which put the
average daily revenue loss at N1.5 billion, said gas constraint remained
one of the major challenges facing the electricity sector.
The
N534 billion is the value of electricity lost on account of the
challenges, part of which could have been used to bridge the liquidity
gap in the power sector, that is put at N1trillion. Already, the sector
is finding it difficult to access more loans from Nigerian banks due to
their inability to meet the payment obligations for previous debts. The
situation will also affect the capacity of the power firms to improve on
electricity supply to consumers for domestic and industrial uses.
