Ozigbo, who stated this at the fact behind the figures presentation of Transcorp Hotels held at the Lagos Floor of the Nigerian Stock Exchange, NSE, explained that presently 14,134 MW of Nigeria’s power requirement is met through self generation.
In his words, “With an electric rate of 45 percent, Nigeria is largely reliant on self generation. An estimated 41 percent of Nigerian businesses generate their own power to augment the limited grid supply.“At N78/kWh Nigerians overpay significantly for each unit of off-grid power consumption which is twice higher than the Grid at N32 /kWh and three times higher than the next most expensive African country, Zambia.
He further emphasized that investment in energy is a key pillar in driving growth under Nigeria’s Economic Recovery Growth Plan, ERGP, and development projects recommended will increase demand on Nigeria’s energy supply. On the Company’s financial performance for the year ended December 31, 2018 he said: “We delivered an exemplary result of 9.4 percent growth in Profit After Tax, PAT. In fact our revue grew by 30 percent to N104.2 billion from N80.3 billion in 2017; Gross profit up by 32 percent to N48.3 billion from N36.4 billion in 2017; Operating profit grew by 33 percent to N34.6 billion from N26.0 billion in 2017, Profit Before Tax, PBT grew by 82 percent to N22.4 billion from N12.
vanguardngr This is the sector presidency need to focus more into....with it well function it will surely drive development of the country economy. God guide and bless
vanguardngr Second to the last.. world statistics rating