The Association of Nigerian Electricity Distribution Companies, (ANED), says for Nigerians to enjoy stable power supply for 24 hours a day, each home must be ready to pay between N9,000 and N10,000 monthly for electricity consumption.
The Associations spokesman, Mr Sunday Oduntan, disclosed this in Lagos.
According to him, with Nigeria’s population of over 180 million people, the country needed a maximum of 180 million megawatts of electricity, and a minimum of 20,000 megawatts to achieve stable power supply.
This is a far cry from what electricity generating companies (Gencos) currently distributes to the national grid. As a result, Oduntan said Nigerians should “forget about an uninterrupted power supply for now.”
In his words: “We have a long way to go. If we are going to have a stable power supply, each home should be ready to pay between N9,000 and N10,000 monthly. Electricity is a commodity that needs to be paid for. Money and other resources are used to produce electricity. The dollar is used to purchase gas to generate power.”
Speaking on the impact of stable electricity in reducing the unemployment rate in the country, Oduntan said Nigeria cannot tackle unemployment without first ensuring power stability.
He said, “No small scale or large scale business can thrive without stable electricity.”
ANEDC’s stand came few days after the Association of Power Generation Companies (Gencos) also said the country needed 180 million megawatts of electricity to be self-sufficient.
The body, through its Executive Secretary, Dr Joy Ogaji, said: “The rule of thumb for an industrial nation is about 1MW for every thousand of the population. This puts Nigeria’s energy need at about 180,000MW range given its population of about 180 million. The Federal Government has a target of 40,000MW by the year 2020.
“It is not about projecting the megawatts, we should also put other building blocks which go with generating the megawatts such as a firm, independent and knowledgeable regulator, a default-proof payment plan, firm payment guarantees and incentives for investors. In summary, the government should provide an enabling environment and avoid interference, focus on policies and give direction.
“More often than not, the Gencos have sufficient generated power available. Without the capacity to transmit and distribute to the final consumers, all the effort is wasted. That is the scenario. That is the basic dilemma the industry faces, “ she explained.