Osamagbe Imadiyi
Prolonged power outages have caused businesses and other activities to be grounded nationwide, resulting in financial losses and suffering for citizens. As of 6 a.m. yesterday, the country’s generation was 3,752.37 megawatts, or MW, according to data from the Nigerian Electricity System Operator.
It was discovered that this is still woefully insufficient for transmission and distribution to businesses and households that also struggle to pay for alternative energy sources, particularly gasoline and diesel, whose prices have increased to over N1,000 per liter. The majority of Nigeria, which has seen its eighth national grid failure this year, was in darkness yesterday, according to checks.
According to Dr. Chinyere Almona, director-general of the Lagos Chamber of Commerce and Industry (LCCI), “LCCI is deeply concerned about the frequency of collapse recorded by the national grid, the sole supply source of hydroelectric power nationwide,” yesterday.Three of the eight grid failures that we have documented this year have occurred in a single week. The national grid’s declining performance is a concern for the business community.
In a similar vein, Dele Oye, President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, or NACCIMA, stated: “The recent wave of national grid collapses in Nigeria has raised serious concerns for our economy and the operational viability of businesses across the country.”
“Businesses have been struggling with an unpredictable power supply as a result of the grid failing several times in recent months. This disrupts production lines, raises operating costs, and ultimately impacts profitability.”