The President of Nigeria, Muhammadu Buhari and other Nigerians spend about $12 billion on fuel for generators, a report by Bloomberg, an American media company, has said.
According to the report, a survey by NOI Polls, shows that households only get an average of 9.2 hours daily power supply in the first half of 2019.
A presentation by Dalberg, a global policy and advisory firm, was quoted to have said over 22 million small petrol generators, which generate eight times more than what the on-grid supply, are in use across the country.
“Businesses and individuals spend about $12 billion a year, twice the country’s annual infrastructure budget, fueling these generators.
“Nigeria is only able to send about a quarter of its total power capacity to homes and businesses due to a poor and dilapidated power infrastructure, much of it installed in the 1980s.
“The country’s transmission lines can ‘theoretically’ carry about 7,500 megawatts, according to the country’s electricity regulatory authority,” the report said.
Bloomberg added that Nigerians consumed an average of 3,713 megawatts of electricity from the grid in 2018 according to the Central Bank of Nigeria.
