Nigeria’s power generation capacity faces a daunting setback as it plummets by a staggering 2,324 megawatts.
The decline is attributed to a combination of deteriorating plant conditions, maintenance issues stemming from liquidity challenges, and other factors, according to the Federal Government.
Although the nation’s installed power generation capacity saw a marginal increase, the available power has dwindled significantly by over 2,300MW between 2015 and 2022.
A recent analysis of the 2022 Electricity Market Competition Report, reveals that Nigeria’s available power capacity has fallen from 6,401MW in 2015 to a mere 4,059MW in 2022.
This decline is attributed to plant degradation, liquidity issues affecting maintenance, forex access challenges, non-binding contracts, delayed payments, and the introduction of stringent regulatory measures.
It’s noteworthy that the Gbarain National Integrated Power Project’s ongoing non-operation may have contributed to the overstated reduction in available capacity.
Meanwhile, the report indicates that the installed and generation capacities of power plants connected to the grid have consistently risen since 2015 when private investors took over power generation companies.
As of December 2022, a total of 28 private and government-owned power generation plants were operational on the grid.
Despite the growth in average daily generation, consumers are dissatisfied with the meager 9.42% increase over seven years, deeming it insufficient to meet the nation’s electricity demands.
According to Uket Obonga, National Secretary of the Nigeria Electricity Consumer Advocacy Network, this level of growth is abysmally low and fails to address the persistent electricity shortages faced by Nigerians.
As Nigeria grapples with these challenges, the nation’s power sector continues to be a critical focus of attention, with hopes for sustainable solutions and improvements in the future.
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