Statistics from the Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Bulk Electricity Trading Plc (NBET) show that the federal government would spend an average of N109.8 billion for the proposed two-month free electricity supply to Nigerians.
The free power supply was announced last week by the electricity distribution companies (DisCos) as part of the federal government’s stimulus package to mitigate the economic challenges that Nigerians are being subjected to during the COVID-19 pandemic.
Statistics showed that since January 2019, the electricity supplied to Nigerians cost between N55 billion and N53 billion monthly.
For instance, the least cost of N47, 583, 048, 273. 37 was incurred in June 2019, while the highest monthly cost for the year was N62, 252, 549, 885.43 incurred in December 2019.
In January 2019, NBET sent an invoice of N55, 782,765,614.21 billion to the 11 Discos as the cost of power supply for the month.
For the subsequent months, an invoice of N51, 034, 312, 869.58 was sent in February; N54, 528, 436, 650.93 in March; N51, 641, 432, 458.96 in April; N53, 964, 628, 756.61 in May; N47, 583, 048, 273.37 in June; N51, 675, 945, 829.13 in July; N53, 007, 648, and N49, 398, 129, 562.64 in September 209.
In October 2019, N50, 100, 668, 072.37 was the total invoice; N53, 500, 536, 476.19 in November; and N62, 252, 549, 885.43, bringing the total cost of electricity supplied for the year to N634, 471, 103, 478.91.
The data also showed that N52, 134, 588, 489.19 was incurred as cost in January 2020.
Meanwhile, the ministry of power said no decision had been reached on the cost-free electricity supply.
It said in a tweet that the federal government would officially communicate its decision when it arrives at one.
“No decision has been taken by the federal government to provide Nigerians with free electricity for two months.
“If and when that becomes a reality, it shall be announced officially.
“Be rest assured that the federal government is exploring ways to ameliorate any hardship on Nigerians,” it stated.
With ThisDay report
