- Nigeria sells only 6% of electricity generated to neighbouring countries
- Electricity exports are necessary to avert a crisis
Appearing before the House of Representatives Committee on Finance, the Managing Director of the Nigeria Bulk Electricity Trader (NBET), Nnaemeka Ewelukwa, explained the reasons for electricity export in light of inadequate electricity to meet local demands. Eweluka noted that Nigeria currently sells electricity to neighbouring Niger and Benin Republics.
“At the heart of the transactions is the issue of the damming of the river. We have dammed the river and if we don’t provide electricity to countries that are upstream on the river, they can also build their dams which will create a major crisis for the country,” Ewelukwa said.
“So there is a strategic reason. If they are able to dam the river upstream, we are in trouble,” he added.
Ewelukwa further stated that only 6% of electricity generated in Nigeria is exported to neighbouring countries. He further noted the various “To address this gap between what is available and what the system can currently carry; there are a number of intervention projects that the government is currently pursuing, that include the presidential power initiatives in partnership with Siemens.” Ewelukwa said.
“The Central Bank of Nigeria (CBN) is currently supporting the funding of interface projects between transmission and distribution companies,” he added.
“We are confident that we are heading in the right direction,” Ewelukwa said.