The Nigerian Electricity Regulatory Commission, NERC, says liquidity in Nigeria’s power increased from N282 billion in 2015 to N900 billion.
The Chairman of NERC, Engr Sanusi Garba, disclosed this on Thursday at the three-day ministerial retreat on the Integrated National Electricity Policy and Strategic Implementation Policy.
The commission added that the N373 billion increase had reduced its financial burden on the industry and, by extension, the Federal Government.
In a presentation at the event, Garba said, “Liquidity in the market has moved from N282 billion in 2015 to N900 billion now. We have also created a mechanism for enforcing payment discipline in the industry. This has seen Disco revenue improve significantly.
“We have reduced the fiscal burden on the government from N528 billion to N155 billion in 2022. Without our actions, the subsidy would have been in the region of N665 billion”.
Meanwhile, in NERC’s quarterly report for Q2 2023, the commission said it paid N135.23 billion on electricity