Nigeria’s power sector decreased in growth by 45 per cent in real term in the third quarter of this year when compared to the preceding quarter, data from the National Bureau of Statistics showed.
Also, industry figures obtained in Abuja on Thursday showed that after posting a peak generation of 5,008.9 megawatts on December 7, 2021, the figure dropped by 1,119.6MW to an off peak of 3,889.3MW on December 8, 2021.
A document on Power Sector Data Review, which was presented by the NBS at the 1st Abuja Electric Power Conference and Exhibition organised by the Abuja Chamber of Commerce and Industry, also stated that the contribution of the sector to real Gross Domestic Product decreased in third quarter 2021.
This came as experts and operators at the conference called on the Nigerian Electricity Regulatory Commission to efficiently and sustainably enforce the sector’s market rules to allow the business function as required.
The NBS power review report stated, “In real terms, the sector grew by 14.36 per cent in Q3 2021, an improvement from the growth rate of –3.66 per cent recorded in the same quarter of 2020.
“When compared to the immediate past quarter, there was a decrease of 63.80 per cent points from 78.16 per cent recorded. Quarter-on-Quarter, the sector grew at a rate of -45 per cent.”