Nigeria’s electricity generation declined to 4,723.30 megawatts peak on July 4, 2024.
This is according to the latest data from the Transmission Company of Nigeria, National Control Centre.
The figure shows a drop from the peak of 4,800mw recorded on May 3, 2024.
According to the data, the lowest electricity generation in the referenced period stood at 3610.08mw.
The report implies that despite over N7 trillion post-privatization investments in the power sector, the country’s electricity generation has not surpassed 5,000mw for an estimated population of over 200 million.
The Minister of Power, Adebayo Adelabu, said in May that the country recorded a peak of 5,000mw as Zungeru Hydro Plant added 625MW to the national grid.
However, the latest figure of 4,723.30mw shows that Nigeria’s electricity generation is on a steady decline.
This is coming on the back of the minister’s promise that by the end of 2024, Nigeria will achieve the 6,000mw electricity generation target.
Meanwhile, President Bola Tinubu has expressed displeasure that Nigeria, despite its population, is still scourged by paltry electricity generation capacity.
Tinubu frowned at the situation when he inaugurated a 31-member Presidential Economic Coordination Council (PECC) at the Council Chamber, Presidential Villa in Abuja.
He underscored the need for innovative solutions to the country’s economic challenges, noting the importance of public-private partnerships in driving economic reforms.
He said: “We have the challenge of energy security in Nigeria. We need to work together to improve our oil and gas sector, and we must also increase electricity generation and distribution throughout the country.
“We are determined to do that with your cooperation, collaboration, and recommendations. As a nation, it is so shameful that we are still generating 4.5GW of electricity.
“We must increase our oil production to two (2) million barrels per day within the next few months and we are determined to remove all entry barriers to investments in the energy sector while enhancing competitiveness,” the President stated.
President Tinubu announced measures, which will run concurrently with the National Construction and Household Support Programme, to stabilize the economy, enhance job creation, and foster economic security.
The measures under the Economic Stabilization Programme are energy security initiative, which includes power, oil and gas.