Overall Revenue Losses In The Power Sector Total N420billion.

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The umbrella organization for Nigeria’s power generation is APGC. According to the executive secretary of the Association of Power Generation Companies; the monthly shortfall in income remittances to the power industry is N35 billion. This comes to N420 billion every year.

If there were sufficient funding, Gencos would be willing to build this in response to the topic of whether Nigeria should build additional open cycle or combined cycle gas turbines.

However, the APGC executive pointed out that the industry’s financial problem was still present; since the electricity sector was currently experiencing a shortfall of roughly N35 billion each month. When N35 billion is multiplied 2, he claimed that the yearly gaps in market remittances may reach N420 billion.

Because energy is immediate, power generation depends on what the system operator needs. The most important thing is that no trading occurs in the Nigerian electricity supply industry (NESI).

Punch.

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