CBN Reports a 27% Decrease in Electricity Export Revenue.

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According to The PUNCH, Nigeria’s electricity export fell by $58.1 million in a single year due to grid failure.

According to data from the Central Bank of Nigeria, Nigeria exported power worth $213.66 million in 2021 but only $155.56 million the following year. As a result, crude oil export revenue has decreased by 27%.

It also indicates that over a two-year period, Nigeria earned $369.22 million by exporting its electricity.

The managing director of TCN, Sule Abdulaziz, highlighted in August of last year that Nigeria has been exporting power, which offers a way to increase foreign exchange for national development.

According to him, under a country-to-country agreement, Nigeria had been selling electricity to Niger, Benin, and Togo through TCN.

However, Nigeria frequently experienced the of its national grid, which further affected electricity output in 2022.


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