Electricity generating companies in the country, GenCos, has identified inaccurate date, government interference and inefficiency as a he major factors responsible for the sorry state of power supply in the country. The power generating companies stated this in a report by them on the power sector, explaining that there is an urgent for the total overhauling of the sector. It stated: “From research, developed nations differ from underdeveloped (third world) countries of the world majorly on data.
Inaccurate Data, Government Interference Affecting Power Supply – Gencos
“Investments for the growth of the generation sub-sector did not depend on the returns from the distribution sub-sector. Investments to improve data quality and adequacy in all sub-sectors of the industry, with the priority being the distribution sub-sector for obvious reasons will solve a number of issues inhibiting the growth of the sector, especially the inability of the DISCOs to make capital investments. “Government’s intervention through the Central Bank of Nigeria (CBN) to continue market interventions without seeking first a better understanding of the market through bankable data will be an effort in futility.” The report also insisted that the sectors’ development was tied to the demand chain.