19 November 2016, Sweetcrude, Lagos — The Association of Nigerian Electricity Distribution Companies, ANEDC, has said for Nigeria to enjoy stable power supply for 24 hours a day, each home must be ready to pay between N9000 and N10,000 monthly.
This was made known by the spokesman for ANEDC, Sunday Oduntan, at the Worldstage Economic Summit 2016 held in Lagos titled: Addressing Unemployment Crisis in Nigeria.
Sunday Oduntan, explained that with the over 180 million population in Nigeria, the country will need a maximum of 180 million megawatts of electricity, and a minimum of 20,000 megawatts for stable power supply.
This is far cry from what electricity generating companies currently wheels out to the national grid, as a result, Oduntan said Nigeria should “forget about an uninterrupted power supply for now.”
“We have a long way to go to. Even if we are going to have a stable power supply, each home should be ready to pay between N9000 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,” he said.
Speaking on the importance of stable electricity to reducing the unemployment rate in Nigeria, Oduntan said, the country can not tackle the case of unemployment without first ensuring power stability.
“No small scale or large scale business can thrive without stable electricity,” he said.
ANEDC’s stand came few days as after the Association of Power Generation Companies GenCos, also said the country needs 180 million megawatts of electricity to be self-sufficient.
The body through its Executive Secretary of the Association, Dr. (Mrs) Joy Ogaji (Ph.D., LLM, BL, LLB) on Tuesday in Lagos, said.
“The rule of thumb for an industrial nation is about 1MW for every thousand of the population. This puts Nigeria’s energy needs in 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, government providing an enabling environment and avoiding interference, focusing on policies and giving 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 said.