Nigeria Plans Selling Electricity To Burkina Faso

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Nigeria Plans Selling Electricity

Nigeria Plans Selling Electricity To Burkina Faso

•Citizens ready to pay for reliable power, says PwC
Nigeria Plans Selling Electricity To Burkina Faso – Nigeria is planning to supply electricity to Burkina Faso, a West African country, amid cries of acute power deficit by Nigerians.
  Managing director/chief executive officer, Mainstream Energy Solutions Limited, operators of Kainji and Jebba Hydropower plants, Mr. Lamu Audu, said this at the Annual Power and Utilities Roundtable organized by PricewaterhouseCoopers (PwC) in Lagos.
  Audu decried the level of energy rejection by electricity distribution companies (DisCos), adding that the company was left with no choice than to find reliable buyers for the rejected power generated.
  Out of the two 922 megawatts (MW) generated on his network, only 600 to 650MW is taken by the DisCos in Nigeria, he lamented, adding that the development was affecting the establishment’s quest for funds to expand capacity.
  “We are left with no option than to sell the balance to other African countries that are willing to pay. In fact, they are willing to take up the whole electricity invoice at a higher price than what Nigerians are willing to pay.
  “We are talking to Burkina Faso on this. We are aware that some Nigerian power firms sell electricity to Togo, Benin Republic, among others; we are not the first to do this,” he added.
  However, in his presentation, partner and general counsel of the West Africa Area for PwC, Moshood Olajide, argued that Nigerians would pay reflective electricity tariffs if they have reliable power supply.
  According to him, the Rural Electricity Agency (REA) case justified the willingness of consumers to meet their financial obligation, if the right value is provided in terms of power consumed.
  Olajide described renewable energy as the way to go for the power sector, considering its flexibility and long-term benefits.
  If the cost of deploying renewable energy drops, Nigerians would start to leverage the technology, which is capable of changing the narrative as far as the power sector is concerned, he added.
  Chief executive officer, All On, a Nigerian off-grid energy impact investment company, Dr. Wiebe Boer, said that Nigeria has the worst power gap in the world, with over 60 million generators, which makes it the most off-grid case. Power tariffs, he said, should be reflective and dependent on the consumers’ willingness to pay.

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