Nigeria Now Ready To Deal With Power Shortage

The fluctuation in the power sector or rather the electricity supply in Nigeria have been reported to have cost the country over $100b in a period of 12 months, this report was released at the world bank regional meetings where the statistics of countries economic standards are being pronounced. Investors in Nigeria are not being encouraged by the situations of the power supply whereas foreign investors are in no way considering to come into the nation for business. As a result the the country is ranking 189th in the table of world thriving economies.


Electricity, not in recent times has been a major demand in the world of business although Nigeria is the number one oil producing nation in Africa, it is still finding it difficult to reach the demand of power in the nation. The daily demand for power in Nigeria is an average of 15000 megawatt but the country is just able to supply 5000MW daily which is barely 1/3 of the required.


The previous government in the country have taken different steps in an attempt to save the nation from the short power output. Part of the solution involves the increase in the budget of the power sector, unbundling the electric sector, and the current attempt is the privatization of the power company but all these have led to a very small effect on salvaging the power sector.

The current president of the nation have looked into the serious situation facing the power sector and therefore is now taking a stand in reviving the power sector in the nation. He said in an interview that he will boost the sector to meet both the national and the international standard.

The power sector itself have a lot of downs to deal with both in its inner circle of workers and the external, this involve the Corruption in the sector, the fluctuation in the supply of gas, pipeline vandalization, and the unprofitable pricing in the cost per KWH which makes it difficult for the company to deal with monetary issues when they come.