CBN: Nigeria generated 29.95 billion from electricity supply to other countries~details below

 

The Central Bank of Nigeria “CBN” has reported that Nigeria made N29.95 billion for three years from electricity export to neighboring countries Ghana, Benin, Cameron, Togo, and Niger in 2021.

According to Naira metrics report In the last five years in the CBN data has shown that Nigeria earned $543.11 million(over N225bn) from electricity exports.

Following the revenue generation of federal government from electricity export emerged  on the bases of continuous power failure in Nigeria as a result of sever grid collapses. 

 Meanwhile, Eko Distribution companies “DISCOs”has explained and apologized to customers over poor service following the most recent occurrence on Friday, 8, 2022. This came from its verified twitter handle.

The Global Bank also stated that the lack of stable electricity has resulted in an estimated yearly economic loss of $26.2 billion, or nearly 2% of the national GDP.

However, many popular Nigerian celebrities have been voicing out over the issues of power outage and the huge amount spent on fuel everyday which has hiked the living expensive in the country.

Last couple of weeks, Nigerians were subjected to higher cost of living through fuel scarcity, the collapse of the national grid which resulted to national blackout, including Academic Staff Union of Universities (ASUU) strike among others surfaces.