• GenCos say N1tr invested so far
• ‘No reason to celebrate dismal performance’
At a peak of 5,459.50 megawatts, Nigeria’s power sector still wobbles with low transmission capacity seven years after privatisation.
This is despite the $1.6 billion invested through the World Bank, African Development Bank (AfDB), and other corporations. The $1.6 billion investment is in addition to other budgetary allocations to key power infrastructure and other revenues generated by the government-owned Transmission Commission of Nigeria (TCN).
The TCN wheels power from generation infrastructure to distribution companies.
Few days after announcing last week that the Nigerian power sector recorded an all-time transmission peak of 5.459MW, the TCN yesterday said a new national peak generation of 5,520.40MW was recorded on Friday, October 30, 2020, at about 9.15 pm. Usually, transmitted electricity is volatile and could either go up or down depending on the stability of infrastructure….
Source: Guardian Newspaper