Expert Says Electricity Market Is Losing N330m Revenue Daily

A power sector expert, Olajuwon Olaleye has decried the comatose state of the Nigerian electricity market and says it now records N330 million revenue shortfall daily, and N10 billion monthly.

He said this against the backdrop of the planned tariff increase by the Distribution companies (Discos) in 2016, Olaleye warned that the increase is capable of raising the present inflation level which could affect industrialization and the cost of living.

He maintained that since the private firms took over on November 1, 2013, the system has continued to bleed, adding that the financial bleeding would have to be managed with increased capacity first before contemplating any tariff increase.