Nigeria: Power Sector Records N163.9 Billion Loss in First 131 Days of 2018 – Africa Investment News
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Nigeria: Power Sector Records N163.9 Billion Loss in First 131 Days of 2018

Abuja — A data of the power sector’s operations obtained from the Advisory Power Team in the Office of the Vice President, Prof. Yemi Osinbajo, has shown that the power sector lost N163.944 billion in the first 131 days of 2018- January 1 to May 11.

This is coming as the Nigerian Electricity Regulatory Commission (NERC) has said it would not take the current rainy season as an excuse from operators in Nigeria’s power sector for any case of electricity accidents in the country, stating that it would not hesitate to penalise any of them whose operations result to such accidents.

According to the data, the estimated amount lost to insufficient gas supply, distribution, transmission and water reserves in the first 131 days of 2018 is N163, 944,000,000.

The report showed that the country’s power sector has continued to record massive losses in its operations owing to various operational constraints which include inadequate gas supplies, poor distribution and transmission facilities, as well as water reserves management.

In a related development, NERC in a statement from its head of public affairs, Dr. Usman Arabi, in Abuja, explained that in line with its mandate to ensure that electricity is produced and consumed in strict observance of the electricity industry’s health and safety standards, it has noted the impact of rainstorms on electricity installations especially with the onset of the rainy season and would want operators to live up to their responsibilities in this regards.

It stated that the seasonal natural disruptions occasioned by the rainy season has further imposed on the industry operators additional responsibilities to operate in strict compliance with the terms and conditions of their licence and health and safety standards in the Nigeria Electricity Supply Industry (NESI).

NERC advised consumers of electricity to report damaged and vandalism of electric installation at the nearest service or business units of their electricity distribution companies to avert loss of lives and property.

The agency noted that it was committed to ensure that quality electricity is supplied across the country in safe and reliable processes.

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