Nigeria may lose Niger Republic’s $665m yearly energy cash

Nigeria may lose Niger Republic’s $665m yearly energy cash

Nigeria will lose more revenues from energy exports once the Niger Republic starts generating her own electricity, it was gathered at the weekend.

Aside Niger Republic, the country, according to the Federal Ministry of Power, exports electricity valued at between $582 million and $665 million annually to countries such as Togo, Chad, and the Benin Republic.

It exports between 350megawatts (Mw) and 400 Mw of electricity daily to those countries, with a view to generating more revenues and meet their energy needs.
Speaking on the side of a stakeholder forum in Lagos, the Technical Director, Consistent Energy Limited, Mr. Mohammed Etti, said Nigeria’s export earnings would dip further once the Niger Republic starts generating electricity.

He said: “If Nigeria allows the Niger Republic to dam River Niger at Fouta Djullion for her own electricity needs, the country would not be able to export electricity to the Niger Republic and that would go a long way to reduce Nigeria’s earnings.”

He said the countries which import energy from Nigeria enjoy a stable power supply while the country is constantly plunged into darkness.

Nigeria, he said, sells electricity at commercial rates to these other countries, adding that the country is yet to enjoy value proportionate to her efforts.

The Ministry of Power had quoted the Managing Director, Transmission Company of Nigeria(TCN), Mr. Usman Mohammed, as saying the country exports 80 percent of her electricity to other countries in West Africa to improve power supply to the sub-region.
He was quoted to have said the issue is inhibiting the growth of the economy, as well as making it difficult for Nigeria to realize her potentials.

Nigeria generates less than 5,000 Mw despite efforts by the Federal Government to grow the sector.

Akinola Ajibade / The Nation Online

Facebook Comments

About author

Nigerians in South Africa
Nigerians in South Africa 11560 posts

We are about democracy, human rights, public opinion, political behavior, civil rights and policy aimed at improving the human condition, with a focus on African countries.

You might also like

Business 0 Comments

Cashbuild buys Pepkor subsidiary for R1.1 billion

Cashbuild is set to acquire Pepkor subsidiary The Building Company (TBC), formerly known as Steinbuild, for about R1.1 billion. With 160 outlets and 21 franchises, TBC is a building materials retail…

Community 0 Comments

OGUN TOPS LIST OF SOUTH AFRICA RETURNEES

Ogun state has the highest number of returnees from South Africa, the Nigerians in Diaspora Commission (NIDCOM) has revealed. Speaking at a media briefing on Monday, Abike Dabiri-Erewa, CEO of

OPINION | It is time for SADC states to break with Zimbabwe | News24

It is time to stop turning a blind eye to what is going on in Zimbabwe, where the government has shown over and over that it is violent and willing to do anything to stay in power, writes Jamie Might…

0 Comments

No Comments Yet!

You can be first to comment this post!

Leave a Reply