Nigeria has borrowed over $3.23 billion in the last four years to fix its electricity problems, but the country still cannot produce more than about 4,500 megawatts of power for its 200 million people.

Different international organisations like the World Bank, the African Development Bank, and the Japan International Cooperation Agency have given Nigeria this money.

The money has come in several large chunks. For example, the World Bank approved several major projects: $500m for the Sustainable Power and Irrigation Project, $750m for renewable energy projects, and $1.5bn for the Power Sector Recovery Performance-Based Operation. The African Development Bank also gave $500m to help Nigeria switch to cleaner energy sources.

The African Development Bank explained that their loan would “help close the financing gap in the Federal Budget for the 2024/25 fiscal year, specifically supporting the implementation of Nigeria’s new Electricity Act and the Nigeria Energy Transition Plan.”

Even with all this money, Nigeria’s power situation hasn’t improved much. As recently as Thursday, the highest amount of power generated was “4,743MW,” which is about the same as it’s been for the past three years.

The country still suffers from frequent power outages, with twelve national grid breakdowns recorded in 2024 alone.

helinues:
But there have been improvement in the electricity supply across Nigeria now

helinues:
But there have been improvement in the electricity supply across Nigeria now

nairalanda1:


The newspaper headline is basic sensationalism...and no, this is not a defence of the government, as the government is part of the problem by its system of price controls....

What Nigeria needs for improved power supply is, according to the experts....not the government....10 billion dollars annually for the next 5-10 years.

That's 10 billion dollars every year for ten years to make impact.

3.2 BILLION dollars over 4 years, or even 16 billion dollars....does not even make much sense.

The thing is, the money will come if the government stops controlling prices, and if Nigerians accept that there is nothing like cheap electricity. Or free electricity. Once we accept both facts, investment is going to pour in like a large flowing river of water....

CodeTemplarr:
Stop peddling lies on behalf of the cabals ruining Nigeria.
It is common knowledge that one MegaWatt of solar cost around $1m to install. If only $1B of that amount borrowed was well utilized, we should be looking at nothing less than 1,000MW being added to the grid.

Do some basic reading and stop sounding extremely off. The subsidy you condemned and argued for its removal, what has the fund been used to achieve till today if not wastage on useless and dormant mega projects?


Privately installed solar systems can average as low as N100 a kWhr so how is government own likely to be done on a large and enjoy scale of economy need to be higher than what Band A customers pay?

nairalanda1:



In other news, Bainstoke Utd 2 Barchester rovers 3.

CodeTemplarr:
The subsidy you condemned and argued for its removal, what has the fund been used to achieve till today if not wastage on useless and dormant mega projects?

CodeTemplarr:
Derailment becomes inevitable when your logic of aggression is trashed aside. Ride on.

Kemetian:


ODE. Your state's allocation has QUADRUPLED UNDER TINUBU, due in large part to subsidy removal.

THE FEDERAL GOVT HAS 35% OF THE BUDGET WHILE STATES KEEP 65%.

Yet every blessed day, you idiots attack the FG 24/7, completely ignoring your THIEVING STATE GOVERNORS, who have been given full autonomy to generate their own power, and even harness their own natural resources.

YET THEY SIT ON THEIR FAT ASSES doing zilch!!!

JUST CHOPPING MONEY!!!!

helinues:
But there have been improvement in the electricity supply across Nigeria now

Modified: Wailers, if una like, make una hit una head on something, there have been improvement on electricity supply . No time for nonsense ejo wewe

https://www.nairaland.com/8314158/light-stable-here-going-2

Kemetian:


ODE. Your state's allocation has QUADRUPLED UNDER TINUBU, due in large part to subsidy removal.

THE FEDERAL GOVT HAS 35% OF THE BUDGET WHILE STATES KEEP 65%.

Yet every blessed day, you idiots attack the FG 24/7, completely ignoring your THIEVING STATE GOVERNORS, who have been given full autonomy to generate their own power, and even harness their own natural resources.

YET THEY SIT ON THEIR FAT ASSES doing zilch!!!

JUST CHOPPING MONEY!!!!

Ojuntana:

Quadrupled ke?
Is it subsidy removal or naira devaluation that increased allocation?

helinues:
But there have been improvement in the electricity supply across Nigeria now

Modified: Wailers, if una like, make una hit una head on something, there have been improvement on electricity supply . No time for nonsense ejo wewe

https://www.nairaland.com/8314158/light-stable-here-going-2

CodeTemplarr:
both. Petrol subsidy removal made more petrodollar available and forex subsidy removal made more Naira available per petrodollar or unit of forex.
It was a multiplier effect.

ayinde2020:
We enjoy 23+ hours of light daily in my area

helinues:
But there have been improvement in the electricity supply across Nigeria now

Modified: Wailers, if una like, make una hit una head on something, there have been improvement on electricity supply . No time for nonsense ejo wewe

https://www.nairaland.com/8314158/light-stable-here-going-2

zombieHUNTER:


Yoruba Muslims to the defense immediately

This one is already disputing 4500mw

Spits