Nigeria loses $26bn yearly to power failure — Report …C0NTINUE READING HERE >>>
Nigeria loses an estimated $26 billion yearly to power failures.
This is according to the latest Africa Trade Barometer report which said the cost excludes spending on off-grid generators.
“Economic losses arising from Nigeria’s electricity shortages are estimated to be USD 26 billion annually, without accounting for spending on fuel for off-grid generators, which is estimated to be a further USD 22 billion,” the report by Standard Bank said.
It said businesses spend about $22 billion annually on off-grid fuel to offset the impact of power shortages. This further pushes…
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