FG has said it will provide stable electricity to 80,000 shops, 320,000 MSMEs in 16 economic clusters across the country to help them improve their operations and significantly cut down cost within the next one year.
Vice President Yemi Osinbajo, made this disclosure when he recently commissioned the 1.5 megawatts (MW) Sura Shopping Complex Independent Power Project (IPP) in Lagos State.
Osibanjo said that FG through the REA has commenced the implementation of its Energising Economies Initiative (EEI), which aims to provide efficient, clean and sustainable power to four economic clusters across Nigeria.
He explained that the initiative would have a trans-formative impact with the provision of reliable power supply to small and medium size enterprises by increasing their economic growth.
Blackout Looms As Nigeria’s Electricity Supply Continues Free Fall-Concise
Nigerians may have a bleak yuletide celebration since the country’s electricity supply is still on a steady decline, according to the Presidential Task Force on Power. Report from the TaskForce indicates that from August to October 2018, power loss was at 337,364 megawatts
In addition, the power sector lost N162bn because of inadequate gas supply, distribution and transmission infrastructure.
A further breakdown of the report shows that August had a power loss of 120, 776MW, as power sent out amounted to 113,460MW, this led to a loss of N57.976bn.
In September, the sector had a power loss of 107,340MW, while 105,432MW was sent out; N51.55bn was lost. For October, there was a power loss of 109,275MW; power sent out stood at 116,312MW. This accounted for an N52.449bn.