The Ministry of Power has disclosed that Nigeria’s Electricity sector is currently losing about N24 billion every month, as a result of the use of Diesel Engines by industries and other electricity consumers in the country.
According to statement released by the Minister of Power, Works and Housing, Mr. Babatunde Fashola on Monday, during the Commissioning of 100MVA transformer financed by World Bank to boost the sector; Not less than 300 million litres of Diesel are consumed by generator users in the country every month, thereby causing a hug lost to the sector.
Report stated that the transformer was installed by a power by MBH Power Limited for the Transmission Company of Nigeria (TCN) at its Katampe transmission substation.
Fashola added that the Government is striving to get up to 2,000 MegaWatts distributions to the target consumers.
The Federal Government is still on other moves to boost the power sector and to create a good business environment in the country.