Earlier this week, The Nations reported a dip in Nigeria’s power generation to about 916MW. According to the Newspaper report, only two power plants, Egbin (steam) and Geregu (gas) were in operation at 14:00 hours on Sunday. Despite Nigeriaâs generation capacity increasing to 22000MW recently and the TCN boasting of a transmission wheeling capacity of 8,100MW, the average electricity utilized has shrunk from about 4,118MW in 2021 to about 3,940 in 2022.
While the ongoing Nigeria-Siemens Power Project holds a lot of promise in increasing grid power supply across the nation, the distribution companies (DisCos) lack the capacity to absorb and distribute the power transmitted by the TCN.Â
Many businesses and homes continue to struggle with the fallouts from this power generation dip, the devastating impacts of sustained high diesel (Automative Gas Oil) prices, and the nationwide scarcity of Premium Motor Spirit (PMS), which is predicted to persist till June 2023, which is when the government plan to end Petrol Subsidy.
How close are we to a solution?
Looking at the future, the major contenders for the February presidential elections have promised immediate removal of the highly-debated Fuel Subsidy and complete the ongoing Nigeria-Siemens Power Project. While the power project is expected to deliver gradual improvement over the coming years, removing the Fuel Subsidy will result in an immediate hike in fuel prices across the nation.
In ensuring sustainable operations and consistent energy supply, businesses and homes need to avoid the volatility of the power sector through smart investments in clean and reliable alternatives. Leading Solar companies like Arnergy have created avenues for regular consumers to access flexible solar financing plans to ease their switch from unreliable power sources.
You can learn more about these financing options and our top-quality solar products by scheduling a Free Consultation Session with our solar experts.
Questions? Speak to Our Experts
Our Renewable Energy Experts are always available to speak with you and share valuable insights and details regarding your requests, as well as guide you towards finding the right solar solutions that meet your energy needs and align with your budget.
