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‘In 2023 alone, Nigerians spent N16.5trn to buy diesel, petrol, generators’— FG

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The Nigerian government says in 2023 alone, citizens spent a total of N16.5 trillion to buy diesel, petrol and generators in order to get electricity.

Minister of Power, Adebayo Adelabu, who revealed this at the 2024 Nigeria Oil and Gas conference in Abuja, also stated that the formal power sector, including electricity generation, transmission, and distribution companies, made a total revenue of N1tn last year amid the over N16tn spent by power consumers in the informal sector.

He, however, noted that electricity consumers on Band A category now get up to 24 hours supply of power as the government had geared up efforts at improving the power sector.

“If you know how much our people spend buying diesel, petrol, generators, and servicing them in a year; the last study we had in 2023, a total of N16.5tn was spent on this in self (power) generation,” Adelabu said.

“Even a number of the industries are off the grid. They now have their captive power between their environments with gas-powered generators.

“So spendings in this sector out of the grid is close to N20tn. And let me blow your mind, the revenue for the entire industry, the grid, I mean the formal power sector was just N1tn for 2023 that goes to the generation companies, transmission company and the distribution companies.

“Just N1tn formal revenue. But the informal spendings on generators, diesel, petrol, was close to N20tn.

“Even if it is just a quarter of that is put in the official power sector, we are talking about incremental revenue of N5tn that will bring the sector’s revenue to N6tn, sincerely we are going to have something close to uninterrupted 24/7 power supply in Nigeria.”

The Power Minister said the “government is currently working hard to earn the trust of power consumers,” stressing that it would be better to spend on electricity provided by the national grid because it is cheaper than spending on diesel or petrol-powered generators.

“That is what we are working on to ensure that that trust is back, that that confidence is back. And all the manufacturing companies that are doing self-generation can cut it off and reconnect to the national grid because it is the cheapest source.

“As at the last study, Band A customers are enjoying uninterrupted supply and pay N206. For the companies that have their captive power using gas, they pay about N290/kwh.

“For those that are using petrol generators, it is about N450 per kilowatt-hour. And for those using diesel to power their generators, it is upward of N900. So it is still the cheapest, most efficient and the least cost for our productive activities.”

Metro

Zambia: President Hichilema urges traditional leaders to invoke rainmaking powers amid drought

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Zambian President, Hakainde Hichilema, has called on traditional leaders to call upon their rainmaking powers by praying for rain as the nation continues to face the menace of drought.

Hichilema, who made the plea while speaking during the Shikaumpa traditional ceremony of the Ila people in Namwala on Sunday, expressed hope for divine intervention and sufficient rains.

“We pray that this year, God will give us rains, sufficient rains, so we can grow more food, so we can take care of the things, the assets that we keep,” the President stated.

He noted that he was informed of certain chiefs known for their rainmaking abilities, including Senior Chief Mwamba of Northern Province, Chief Sailunga of North-Western Province and Mwami Monze from the Southern Province and urged them to use their powers to invoke rain, adding that the chiefs should continue their prayers for rain, believing that “God will hear our cry.”

The President also encouraged not only the chiefs but also the churches and the entire nation to join in prayers for rain.

“All of us, the churches, everybody, we must pray for rains so that we can take care of God’s people properly,” he said.

The head of state further urged farmers to intensify efforts at planting crops and maximizing their harvest for national food security once the rain comes.

The drought in Zambia in recent
seasons have left 84 districts severely impacted, leading to food shortages and a worsening electricity deficit due to low water levels.

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Tiinubu committed to easing hardship Nigerians are going through— Info Min, Idris

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Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has, once again, reiterated President Bola Tinubu’s dedication and commitment to easing the economic hardship of Nigerians as a result of the removal of fuel subsidies and other policies of the government.

Idris, who gave the assurance during a live radio programme on the Hausa service of Federal Radio Corporation of Nigeria (FRCN) titled, “Hannu Da Yawa,” said fuel subsidies primarily benefited a select few wealthy Nigerians to the detriment of the ordinary Nigerian masses.

The minister, however, emphasized that the Tinubu-led administration was working towards economic stability, even as the president had urged ministers to cut expenses by limiting official vehicles and personnel on assignments.

“President Tinubu is pointing out the need to change from the old ways of doing things in Nigeria,” Idris said.

He noted that the cost-saving measures, though seemingly small, are expected to make a significant impact.

He also stated that the recent renaming of the Ministry of Agriculture and Rural Development to the Ministry of Agriculture and Food Security reflects Tinubu’s commitment to addressing agricultural issues from multiple angles, particularly to improve food security.

On security, Idris said Tinubu’s administration has continued to acquire resources for security agencies and support personnel welfare, while consultations on establishing state police are ongoing.

Idris also urged Nigerians to responsibly use social media to portray the country positively, emphasizing collective responsibility in shaping Nigeria’s image.

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