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Business Nigerians Spend Over N796.4bn Yearly to Power Electric Generators


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Nigerians spend over N796.4 billion annually on fuel to power their generators to get electricity, an amount which represents the country's budget for capital expenditure for the year 2009, according to the Community Research and Development Centre. Daily Independent reports.

Excerpt:

The Programme Director, Community Research and Development Centre (CREDC), Godfrey Ogbemudia who made this known during the official launching of the Nigeria Renewable Energy for All Project in Benin, explained that the figure represented Federal Government’s budget of N796.7 billion for the capital expenditure for the 2009 fiscal year for 36 states of the federation.

Ogbemudia lamented that in spite of the various government policies to revive the energy sector, many Nigerians still get as low as four hours of electricity supply per day, hence the need for Nigerians to embrace solar as a viable source of power.

He said the CREDC had been playing a key role in the deployment of renewable energy to rural communities since 2006, part of which was the installation of stand-alone solar systems for no fewer than 550 households in Edo.

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