DESPITE various interventions by the Federal Government to improve power supply in the country, a recent World Bank report has revealed that annually, Nigeria’s economy still loses between N7 trillion and N10 trillion to epileptic power supply. It said the total sum represents 5-7per cent of the country’s GDP.
The report was released on June 16 by the World Bank under the Power Sector Recovery Programme to flag the new Nigeria Development Update (NDU).
In the report titled ‘Resilience through Reforms’, the World Bank stated that due to unreliable and insufficient electricity supply, businesses and wealthy homes depend mostly on generating sets.
It said the over 22 million…
Source: Nigerian Tribune