There are over 22 million petrol generators in the country powering about 26 per cent of households and 30 per cent of Micro, Small and Medium Enterprises (MSMEs), aWorld Bank has said. The report further said the net capacity of these generators is eight times more than the national grid.
The report entitled: ‘Resilience through reforms’, the World Bank noted that due to unreliable and insufficient electricity supply, businesses and wealthy homes depend mostly on generating sets. These challenges, the World Bank noted, is due to substandard infrastructure, which have become extremely urgent to improve and expand the power network, if quality supply of electricity is to be attained.
The report, released on June 16, under the Power Sector Recovery Programme to kick off the new Nigeria Development Update (NDU), also identified operational inefficiencies in the system as the cause of the massive financial as well as economic losses. For instance, the body observed that yearly, the country’s economy loses between N7 trillion and N10 trillion to epileptic power supply, notwithstanding the various interventions of the government for efficiency in the sector…
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