Except urgent measures are taking by the Federal Government to rescue the power sector, the country may soon be thrown into total blackout, Daily Sun investigation has revealed.
Latest generation statistics from the Electricity System Operators website, a sub agency of the Transmission Company of Nigeria (TCN) indicated that the country lost 2518MW in just three days (January 23-26).
This was so because power generation dropped from 2,662MW on January 22 to 2,630.30MW on January 23, translating to a loss of 32 MW in one day. But as at yesterday, power generation had dropped to an all time low of 112.20MW, bringing the total loss to 2518.
The development may not be unconnected with the inability of the power generating companies to clear outstanding invoices to gas producing firms.
According to NBET, invoices from the 22 power generation plants for September 2016, was N36.49 billion while payment to them based on receipt from the Discos was N8.99 billion, representing 24.64 percent.
NBET further explained that total energy sent out in September 2016, was 1.97GWh, as the 11 Discos consumed 92.49 percent of the total energy sent out in September, while international customers and other off-takers consumed 7.50 percent.
Chairman of Transcorp Group and United Bank for Africa (UBA), Mr. Tony Elumelu, had on Wednesday described Nigeria’s power sector walking corpse, which may collapse soon if no urgent action is taken.
Speaking to CNBC Africa, Elumelu maintained that the agency of government that has responsibility for ensuring that the sector delivers on its potential is not doing well enough because it was owed a lot of money.”
“Transcorp Power Holdings is owed almost N50 billion. When we put in the invoice for this month, we should be owed almost N54 or N55 billion. How do you survive in business like this? How? Other GenCos I know are actually dying.
“We are struggling because of our diversified resource base, what about others? Something urgent and drastic must be done. It is as urgent as
“The truth is that Transcorp power, as a key operator in the sector, is struggling. And if we are struggling, you can imagine what others are
Elumelu went on to ask the government to allow it generate its own gas, adding that “where we are located, we are sitting on a lot of
gas”. Meanwhile, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, attributed power sector collapse to liquidity issues, vandalism, among other constraints.
This was even as he said power generation had risen to 2,900 megawatts after the system collapse left parts of the country in darkness last