In July 2023, Nigeria’s average electricity generation increased by 8.6% YoY to 3,970.33 megawatts (MW) compared to 3,655.64MW in the same period of 2022. However, on a month-on-month basis, there was a slight decline of 0.5% from June 2023, where it was 3,991.57MW.
The highest average generation of 4,616MW was recorded in February 2023, while the lowest, 3,970.33MW, was in July 2023.
Data from the National Energy System Operator, a semi-autonomous unit of the Transmission Company of Nigeria, showed that less than 4,000MW was transmitted and distributed to consumers by TCN and the Electricity Distribution Companies (DisCos).
This inadequacy led and businesses to resort to independent power generation, incurring additional costs due to the high prices of diesel and petrol.
A Lagos-based water producer expressed concerns about the potential impact of the federal government’s electricity tariff review on their business, considering the
The President of Nigeria Consumer Protection Network, Kunle Olubiyo, also commented on the recent floating of Naira/Deregulation of Forex Trading Windows, anticipating its influence on electricity tariffs and the overall cost of living in Nigeria.
He noted the significant change in the exchange rate since the last tariff increase.
The news further emphasized the need for increased investment in critical power grid infrastructure and network improvements to enhance efficient service delivery of Nigeria’s electricity.