Nigeria loses N24bn monthly to the electricity-generator market – Lumos VP
Nigeria’s electricity sector loses N24 billion monthly to the electricity-generator market despite the 60 million generating sets used in the nation’s urban environment, according to Olufemi Ashipa, Vice President, Marketing, Lumos Nigeria.
He spoke at the Solar Future Nigeria 2018 conference held in Abuja, weekend, where he also said 61% of Micro SMEs in Nigeria spend between N500 to N1000 per day on fuel and as many as 85% of micro and small businesses rely on generators for the supply of electricity.
He stated that while power supply remained a major issue in Nigeria, residents in urban communities in the country lead the pack in the adoption of very expensive and climate-damaging option for generating power compared to solar energy solutions which are cheaper, safer, and an environmentally friendlier option in the energy supply mix.
He advocated the need for residents in Nigeria’s urban communities to adopt the use of solar energy as part of an effective energy mix option for their critical and basic electricity needs.