Latest data released yesterday by the Federal Ministry of Power estimated the amount lost to insufficient electricity distribution, inadequate gas supply, poor transmission and low water reserves in the sector in 2018 at N475.329billion.
The data showed that on November 20, 2018, alone, average energy sent out was 4,201 megawatts (up by 62.55MW from the previous day). However, 1,254.2MW was not generated due to non-availability of gas. Also, 987.1MW was not generated due to high frequency resulting from non-availability of distribution infrastructure.
The power sector also lost an estimated N1.076billion on November 20, 2018, due to insufficient gas supply, distribution infrastructure and transmission infrastructure. In a bid to diversify its energy sources and optimise other assets for power production, Nigeria is targeting 30 per cent of its energy needs from renewables by 2030.
The Minister of Works, Power and Housing, Babatunde Fashola, who said that the current component of grid power consisted mainly of gas-fired power (85 per cent) and hydropower (15 per cent), stressed the need to produce an energy mix that targets a 30 per cent component of renewable energy out of the gross energy produced by 2030.
Nigeria Signs $60mn Development Partnership With UNIDO – Premium Times
FG and the United Nations Industrial Development Organisation (UNIDO) have signed a $60 million new country programme for inclusive and sustainable industrial development in Nigeria for 2018- 2022. Minister, Industry, Trade and Investment, Okechukwu Enelamah, signed on behalf of FG, while UNIDO DG, Li Yong, signed for his organisation.
The new country programme, the second in the series of UNIDO’s support to Nigeria, is aligned to the priorities of the Federal Government as outlined in Nigeria’s Economic Recovery and Growth Plan (ERGP) and the Nigeria Industrial Revolution Plan.
It covers industrial governance, research and statistics; Micro, Small and Medium Enterprise development; Special Economic Zones, Industrial Parks & Private sector development; innovation science and technology management. Other key areas covered are agro-industry and agribusiness development; minerals and metals development; trade capacity building; renewable energy development; and environmental management programme.