The World Bank estimated that businesses in Nigeria lose about $29 billion annually to poor electricity supply.
This was disclosed at the ‘World Bank Dialogue on Fostering Knowledge-Sharing and Dialogue on Power Sector Issues in Nigeria’.
Speaking on the matter while presenting the Power Sector Recovery Programme (PSRP) fact sheet put together by the institution, the World Bank’s Practice Manager for West and Central Africa Energy, Ashish Khanna noted that Nigerians receive a half supply of electricity despite paying utilities.
The sheet stated, “Businesses in Nigeria lose about $29 billion annually because of unreliable electricity. Nigerian utilities get paid for only a half of electricity they receive.”
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It added that electricity bills in the country remain unclear which leads to many Nigerians unwilling to pay electricity bills.
“Six in 10 of registered customers are not metered, and their electricity bills are not transparent and clear. This contributes to resistance to pay electricity bills.”
Privilege Gap In Electricity Consumption
The report noted that wealthy neighbourhoods enjoy a more relatively stable electricity supply, adding that “a big chunk of government support ends up going to those who do not need help with paying bills.”
Recently, BizWatch Nigeria reported that Nigeria led the list of countries with poor electricity supply, with 25 percent of its population living without electricity.
