According to electricity distribution companies (Discos) in Nigeria it will take not less than N36 trillion to ensure a stable power supply in the country. The Discos said the investments will be needed over a period of 20 years.
The Discos disclosed that the investments will include N3.6 trillion in distribution networks over the next five years. The entire power supply value chain of the Discos, according to them, will also take about N14.4 trillion over the next two decades.
According to a November 2018 edition of the Monthly Business Expectations Survey Report of the Central Bank of Nigeria (CBN), insufficient power supply is the most compelling factor that constrains businesses in the West African Nation.
Similarly, research by the World Bank revealed “that power outages and deficient power infrastructure in Sub-Saharan Africa had a measurable negative impact on economic growth over the period of 1995−2007.”