The World Bank says the Federal Government of Nigeria is spending $1.5bn annually to fund electricity tariff shortfalls.
According to its enlarged report on Nigeria power sector recovery programme the bank said Nigeria’s power sector is operationally inefficient with unreliable supply exacerbated by high losses and lack of payment discipline.
The report added that a total of 74 per cent of power users in Nigeria are dissatisfied with the supply of electricity across the country, while 93 per cent of metered power users paid their bills regularly, 78 per cent of electricity consumers in Nigeria received less than 12 hours of supply daily.
The bank disclosed this in its power sector recovery programme opinion research fact sheet obtained in Abuja on Friday, as it noted that the findings were done after a thorough survey conducted by the global financial institution.
Providing highlights from its findings and analysis of the PSRP, the bank said 93 per cent of consumers paid their electricity bills regularly whenever their units were exhausted.