Liquidity in Nigeria’s power ha risen from N282 billion in 2015 to N900 billion over the past nine years.
This is according to the Nigerian Electricity Regulatory Commission (NERC) which made this known at the Ministerial Retreat on the Integrated National Electricity Policy and Strategic Implementation Policy.
The power sector regulator pointed out that with the recorded growth, financial burden in the industry had been reduced by about N373 billion.
Chairman of the commission, Sanusi Garba, said a mechanism had also been created for enforcing payment discipline in the industry, a move that had seen Disco revenue improve greatly.
“We have reduced the fiscal burden on the government from N528bn to N155bn in 2022. Without our actions, the subsidy would have been in the region of N665bn,” he stated.
Minister of Power, Adebayo Adelabu, appealed to operators and agencies in the sector to work with the government, warning that those who fail to deliver would be shown the way out.
“I appeal to the people working with me, the agencies and public servants, that they should support us to ensure that we deliver and not disappoint Mr President. And I say we are using the carrot and stick approach. We are using the carrot now by appealing to ourselves,” he stated.
