The importance of power supply to the economic development of any nation cannot be overemphasized. Availability and access to reliable electricity supply have a multiplier effect on the productivity and welfare of society. Stakeholders in the Nigerian power sector are quick to say that there is a 12,910MW installed capacity for electricity generation in Nigeria. Even though more than half of the installed capacity is inefficient.
But wait a minute, do you know that with zero loss, the power generated from an installed capacity of 12,910MW is same as 4.3 million units of 3,000W? Literarily, it means Nigeria has 4,303,330 units of 3000W capacity generators for the whole country. A power generating set with a rating of 3000W would be adequate to power all basic electrical appliances and devices in the average Nigerian household or small office.
However, it won’t be enough to power big firms, hospitals, agric processing machines, and other big corporations. This, of course, is expected to power all households, small and large production plants and corporations.
Moreover, it is hypothetically able to provide for 10.75 percent of the 40 million households in Nigeria. According to the population statistics by the National Bureau of Statistics, the Nigerian population is estimated as 200 million people. With an average household made up of 5 people, this implies 40 million households will have to share the available 4,303,330 generators with 3,000W capacity.
The inadequacy of the electricity in Nigeria is worst when you look at the generated capacity per hour. For instance, as of 06.00Hrs on 27 May, the amount of electricity generated was 3,332.8MW. This amount of electricity is equivalent to what 1,110,930 households with 3000W generators will use. Moreso, this means an average of 38.89 million households with basic consumption need of 3000W electricity may not have power supply as at 06.00Hrs on May 27.
Clearly, nearly all the barbing shops, block making outpost, sawmill businesses, and of course, hospitals that service these 40 million households and businesses will end up fueling their generator. Thanks to no power supply! Otherwise, they compete or ration 1,110,930 units of the required 3000W power generators. Give or take, 39 million residential or small business outlets may wake up that morning without access to electricity.
Aside from its utility in powering industrial machines, the role of electricity in human productivity is enormous. Virtually all business activity, especially industrial and services, require a constant and effective flow of electricity. Similarly, serving as an input in production processes, electricity also contributes greatly to product marketing. In many cases, the availability of power supply plays an important role in storing finished goods ahead of demand and therefore enhances consumers’ satisfaction by assisting in making the goods available to consumers when needed. This also helps in building a firm’s image and protects the firm’s reputation as a result of customer’s trust being sustained on having their demand met. The forgoing points out that, poor electricity supply or lack of quality and available power supply to the public and the business enterprises is a hindrance to economic development.
The unstable nature of electricity supply in Nigeria has alternative power supply mandatory. There is no doubt that the unstable nature of power supply in Nigeria is a great hindrance to economic development. A lot needs to be done about the unstable nature of the Nigerian Power supply. Hopefully, the President’s directive for the conclusion of the nation’s engagement with Siemens AG over regular power supply through the Presidential Power Initiative (PPI) will not be one of those on paper achievement. But a practical step in the right direction to maximum electrification, industrialization, and economic development.
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