Acting Chairman /Chief Executive Officer, Nigerian Electricity Regulatory Commission (NERC), Anthony Akah, has said that if care is not taken, the shortfall in the power sector will hit N3 trillion by the end of this year.
Akah revealed this in a statement over the weekend. “This is like a doom’s day scenario because if care is not taken, shortfall in power sector will hit N3 trillion by end of 2016. The reason is lack of revenue attributed to the services provided but don’t get paid for”, he said.
Akah mentioned power theft, metre by-pass, unpaid bills as some of the causes for the shortfall. He then explained that power loses are usually estimated and added to the bills/tariffs of those customers with metres. It would be recalled that in October, Nigeria Electricity Hub, an initiative of Nextier Power, said that the Nigerian electricity supply market will record an estimated N1 trillion shortfall by December 2016.
Source: Daily Times