Power sector ‘lost N324.3bn’ in eight months
New data from the advisory power team in the office of Vice-President Yemi Osinbajo has shown that the power sector has lost N324.3bn this year, due to gas constraints and poor distribution network.
According to the latest power generation report, 3,700MW could not be generated on August 20 due to unavailability of gas, poor transmission and distribution network, and high frequency.
As a result, the sector lost N1.786bn same day.
A report by the advisory power team in June showed that the sector lost N201bn revenue in 6 months — from January 1 and June 5.
The data indicated that a total of N201,298,000,000 loss was recorded due to repeated shortfalls in gas supply to power generation companies (GenCos), the inability of the Transmission Company of Nigeria (TCN) to effectively transport electricity from GenCos and operational limitations of power distribution companies (DisCos).
Published in The Cable, 22nd August, 2018