Power generation under the administration President Muhammadu Buhari may have hit the worst low as only 1,970mw was generated as at Thursday.
This means the most populous black nation in earth with over N170m people share less than 2,000mw.
2017 has witnessed a disturbing three times system collapses with the recent one occurring on Wednesday.
DAILY POST gathered that the situation has been compounded by the huge debts owed for gas, just as recent attacks on gas facilities are limiting supply to the power plants.
Recall that in October, Nigeria had over 4,300mw.
Meanwhile, the federal government has ruled out any form of subsidy funding for the power sector as a way out for the prevailing liquidity crisis.
Minister of Power, Works and Housing, Mr. Babatunde Fashola, spoke at the monthly Nextier Power Dialogue in Abuja on Wednesday.
Fashola said government considered that the N213 billion Nigeria Electricity Market Stabilisation Fund (NEMSF), which the Central Bank of Nigeria (CBN) was providing, was an adequate subsidy for the sector.
He said the facility, which was a low-interest loan with some moratorium, had been accessed by some operators already to upgrade their assets and services.
“Subsidy appears in different forms. When I resumed in this sector, I was made to understand there is an existing CBN fund for the market.
“The CBN fund comes at a low interest rate. If that does not qualify as subsidy, then I don’t know what else qualifies”, he added.
Courtesy: DAILY POST
It’ s appauling to see that Nigeria still suffers poor power generation in this era of globalisation and massive industrialisation. During my last visit to Nigeria, power suddenly went off at the Lagos airport and lasted for about 1hour 45 mins before it came back. What a shame! And the government is not really doing anything about it. Now with Buhari it is even worst. But they should bear it in mind that a country that wants development jokes not with electricity because it is a sine qua non factor the generates every other sector.
After pumping in so much money into the power sector, the situation has worsened. Tragic.
See the money there are calling. OMG. It will eventually end up in some peoples pockets without getting the work done. I told them not to vote APC they refused to liaten. Ahhhhhhhhhhh.
This is not the change Nigerians hoped for.