Averaging 4,500 megawatts in the past eight years, Nigerians looking forward to improved electricity supply may continue to wait as inherent challenges may stall power generation in the current. While Nigeria had introduced a Service Based Tariff late 2020 on the promise that electricity supply would improve, the prevailing situation created a worse experience for consumers. It was also gathered that the prevailing challenges have led Nigeria Gas Company (NGC) to issue a notice to manage the situation to avoid complete collapse of the grid. With huge debt and equity servicing challenges, operation and maintenance barriers, dearth of new investments, poor credit rating and poor business viability image to investors, the dismal outlook of the power sector may not change in 2022. For the elusive state of the sector to change, especially in the areas of electricity generation, evaluation of privatization exercise remained sacrosanct as well as synergy across the market.

Source: The Guardian January 05, 2022 04:30 UTC