Nigerians spent N16.5 trillion on self-generated electricity, particularly fuelling and servicing of generators, Minister of Power, Adebayo Adelabu, has said. He said the figure was arrived at after a research carried out for 2023.
He spoke yesterday while delivering his speech at the ongoing Nigerian Oil and Gas (NOG) Energy Week Conference in Abuja.
He said: “What Nigerians spent on self-generation of power – on fuelling and servicing their generators – is N16.5 trillion according to a research that was carried out in 2023.
Looking at this you will see that What Band A customers pay is still cheaper compared to this, despite having 24 hours uninterrupted supply.”
The minister opined that as Nigeria continues to embark on an extraordinary journey towards net zero carbon emissions, it is crucial to ensure that a more just, affordable, and sustainable energy system is adopted to address the industry’s most pressing challenges and unlock limitless potential in achieving energy security and a secure, sustainable, and equitable energy transition for Nigeria.
He said that the power sector in Nigeria consumes the largest share of the country’s domestic gas supply.
He advocated for increased investment in Nigeria’s gas development to unlock the full potential of the nation’s power sector and achieve the Nigeria Energy Transition Plan.