Power Sector And Other Related News Stories For Monday August 7th 2023

Posted by News Room August 7, 2023

Electricity deficit: Solar Unaffordable, Struggles to Bridge 86% Gap

With about 86 percent of Nigerians still without access to electricity, the Federal Government has continued to struggle with bridging the gap with solar mini grids solutions, despite unaffordability and technology limitations.

Despite the government’s various efforts and donor interventions at delivering mini grids to underserved and unserved rural areas across the country, Nigeria, according to Tracking the SDG 7: The Progress Energy Report (2023), is still leading in the least of countries with electricity supply deficit, followed by Ethiopia.

Nigeria has continued to grapple with epileptic power supply from the power grid whose supply is grossly insufficient to serve the country’s population of over 200 million.



Nigeria Can Generate 427,000MW From Solar – Gencos

Nigeria can generate about 427,000 megawatts of electricity from solar energy that comes from the sun, power generation companies have said.

Nigeria currently generates less than 5,000MW for more than 200 million people.

For instance, data obtained from the Federal Ministry of Power, on Sunday, showed that power generation on the grid as of 6am was 3,803.6MW.

The Chief Executive Officer, Association of Power Generation Companies, Joy Ogaji, while making a presentation titled, ‘The Electricity Act 2023: Options for renewable energy penetration and role of stakeholders’, said more than 420,000MW of power could be generated from solar energy in Nigeria



Nigeria’s New Electricity Act and The Wave of Sustainability in The Nigerian Power Sector

Given the growing recognition of climate change and the imperative to shift away from fossil fuels, the energy sector faces a significant challenge in achieving sustainability. Nigeria, as a member of the global community, is equally dedicated to contributing its quota in lowering emissions and implementing sustainable energy sources to meet its climate objectives.

In 2021, Nigeria formulated its energy transition plan to attain carbon neutrality by 2060. To achieve this goal, the plan set out to reduce emissions in five sectors of the Nigerian economy, the power sector included.



MAP Have Covered 92.71% Out Of 171,107 Meters Given In Q1/2023 To Customers

The Nigerian Electricity Regulatory Commission (NERC) has said that out of 171,107 end-user customers metered in the first quarter of 2023, it has covered 92.71% in the Meter Asset Provider (MAP) scheme.

This was highlighted in the Q1/2023 Electricity Report from the Commission.

According to the report, as of 31st March 2023, there were 12,378,243 registered customers, with 5,360,434 having meters, accounting for 43.31% of the total.



World Bank to Help Fund 1000 Mini Solar Power Grids in Nigeria

The World Bank is aiming to help fund construction of 1 000 mini solar power grids in Africa’s biggest economy Nigeria in partnership with the government and private sector, the lender’s president Ajay Banga said on Saturday.

Nigeria, with a population of more than 200 million people, has installed power generation capacity of 12 500 megawatts (MW) but produces a fraction of that, leaving millions of households and businesses reliant on petrol and diesel generators.

Mini grids, made up of small-scale electricity generating units, typically range in a size from a few kilowatts to up to 10 MW, enough to power some 200 households.



Rural Electrification Agency has delivered power to over 7.5 million Nigerians

The Nigeria Electrification Project is one intervention that has enabled us to accelerate the impact of renewable energy technologies such as solar hybrid mini-grids and solar home systems, while equally expanding private sector participation in the nation’s off-grid space.

The implementation of the programme has been successful and it might interest you to know that the NEP model has become an exemplar in the off-grid space in sub-Saharan Africa.

As a private sector-driven programme being jointly funded by the World Bank we have successfully impacted many households, businesses, and healthcare institutions through the various components of the NEP.



FG Paid N36bn For Electricity Subsidy In 3 Months

The Nigerian Electricity Regulation Commission (NERC) has said the federal government paid the sum of N36bn to subsidise electricity consumption in the first quarter of 2023.

In its quarterly report, NERC said the money amounted to the payment of N12bn monthly which was paid to the Nigerian Bulk Electricity Trading (NBET).

With the NBET charged with the collection of revenues due to generation companies and the Transmission Company of Nigeria from the DisCos, the sum of N141.5bn was paid to the NBET from the N209.2bn invoice given to the DisCos.

Recall that the total revenue collected by the 11 Distribution Companies (DisCos) in the first quarter was N247bn from the N359.3bn billed to customers.





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