According to Africa Finance Corporation (AFC), a pan-African multilateral development finance institution, the federal government of Nigeria must adjust the electricity tariffs to attract investors in the power sector. This was disclosed by Andrew Alli (photo), managing director AFC, at the 2017’s annual conference of the Finance Correspondents Association of Nigeria (FICAN) in Lagos.
According to him, attracting investments is vital to bridge the country’s infrastructure deficit.
It should be noted that power losses in Nigeria’s electricity distribution system are evaluated at about 2,000MW which represents 50% of what the country currently produces. In fact, Nigeria generates only 4,000MW of electricity while its demand stands around 12,000MW.