Businesses lose $29 billion yearly to poor electricity, says World Bank

(Photo by PIUS UTOMI EKPEI / AFP)

•Country controls 10% of individuals without access to power
The World Bank has stated that businesses in Nigeria suffer an annual loss of $29 billion as a result of an “unreliable” power supply, saying the situation has resulted in the refusal of consumers to pay their bills.

Top officials of the bank said this at ‘World Bank Dialogue on Fostering Knowledge-Sharing and Dialogue on Power Sector Issues in Nigeria’.

Presenting the bank’s Power Sector Recovery Programme (PSRP) fact sheet, World Bank’s practice manager, West and Central Africa Energy, Ashish Khanna, said the majority of Nigerians are reluctant to pay for electricity because the bills are not “transparent and clear.

(Photo by PIUS UTOMI EKPEI / AFP)

•Country controls 10% of individuals without access to power
The World Bank has stated that businesses in Nigeria suffer an annual loss of $29 billion as a result of an “unreliable” power supply, saying the situation has resulted in the refusal of consumers to pay their bills.

Top officials of the bank said this at ‘World Bank Dialogue on Fostering Knowledge-Sharing and Dialogue on Power Sector Issues in Nigeria’.

Presenting the bank’s Power Sector Recovery Programme (PSRP) fact sheet, World Bank’s practice manager, West and Central Africa Energy, Ashish Khanna, said the majority of Nigerians are reluctant to pay for electricity because the bills are not “transparent and clear.

 

credit: The Guardian

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