Nigeria: Power Generation Declines by 990MW, Costing Gencos N1.8 trillion.
According to the most recent data on the energy generating trend witnessed in Abuja, the available generation capacity in Nigeria power generation capacity decreased once more in 2022, falling from the 6,336. 52 megawatts recorded in 2021 to 5,346.82MW last year.
As data from the paper also indicated a decline in the average used power in 2022, it was also noted that the yearly capacity payment loss to power producing businesses had risen to N1.8tn. According to data gathered from power producing firms, while the average amount of electricity used in 2021 was 4,118. 98 MW, it fell to 3,940.54 MW in 2022.
Joy Ogaji questioned if the goal of producing 30,000MW in Nigeria by 2030 was realistic, pointing out that given the historical pattern in Nigeria power generation capacity, one may project the future of electricity production in Nigeria.
The Deputy President, Nigeria Labour Congress, Joe Ajaero, recently described Nigeria power sector as a failure, stressing that both the Federal Government and operators had failed to meet the expectations of electricity consumers nationwide.
The Federal Government, however, opposed the position of labor, as it argued that the power sector was now healthy despite the challenges confronting the industry.