• About
  • Advertise
  • Careers
  • Contact Us
Sunday, June 22, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home News

Electricity: DisCos Face N2trn Capital Deficit

by Techeconomy
January 5, 2024
in News
1
DisCos in Nigeria
Electricity infrastructure

Electricity infrastructure

UBA
Advertisements

Pressure mounts on electricity distribution companies in Nigeria (DisCos) which are grappling with an estimated capital deficit of N2 trillion (about $2.5 billion).

The DisCos require fresh investments to revive the industry struggling to adequately supply power to over 200 million citizens.

Olu Verheijen, special adviser on Energy to President Bola Tinubu, disclosed this in an interview with Bloomberg.

She stated:

“We need to set policies that facilitate reorganization and recapitalization and bring in new partners with new capital.

The recapitalization will accompany plans to make electricity tariffs cost-reflective, which will improve the liquidity and viability of the power sector.”

The presidential adviser however did not provide a date or more details for the recapitalization plan.

Recall that President Tinubu had pledged on January 1 to improve electricity supply in the country.

While the country privatized generation and distribution in 2013, tariffs are set by the Nigeria Electricity Regulatory Commission (NERC), which is a government agency.

Power firms are not allowed to charge enough to recover the cost of distributing electricity, with the government paying the difference as a subsidy to companies in the sector.

Without a tariff review, weakness in the naira – which slumped 50% against the dollar last year – and accelerating inflation could push energy subsidies to N1.6 trillion this year from N600 billion in 2023, according to NERC.

“With the current tight fiscal space, government’s ability to cover this shortfall is challenged. These issues have exacerbated the financial-liquidity challenges in the sector,” Verheijen said.

Only 4,000 megawatts of Nigeria’s 13,000 megawatts of installed capacity for electricity generation are distributed to homes and businesses. (Bloomberg)

Loading

Advertisements
MTN ADS

Author

  • Techeconomy
    Techeconomy

    View all posts
0Shares
Tags: DISCOsElectricityOlu Verheijen
Techeconomy

Techeconomy

Next Post
University degree saga

The University Degree Saga: Changing the Nigeria Academic Narrative

Comments 1

  1. Pingback: NERC Issues Power Generating Licence to Ekiti, 12 Others - Tech | Business | Economy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

The Address Homes Limited Pushes for Real Estates in Nigeria to Embrace Global Decarbonisation

3 years ago
Five Ways to Keep Your Email Address-Kaspersky

Five Ways to Keep Your Email Address-Kaspersky

11 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.