The Electricity Generation Companies (GenCos) at the weekend said the country loses $29.3billion yearly to low supply resulting from load shedding and inadequate facilities.
The Executive Secretary, Association of Power Generation Companies (APGC), Joy Ogaji, in an emailed response to questions, urged the Transmission Company of Nigeria (TCN) to upgrade its network to absorb the 8,000megawatts (Mw) capacity of the GenCos.
She said: “In urban areas where electricity access has been provided, the availability of electricity supply is drastically low, due either to load shedding or inadequate power supply facilities. It is estimated that the Nigerian economy is losing $29.3 billion annually, due to the lack of adequate power.”
