Nigeria loses over N2bn annually to poor power supply – UNDP

Power station

Nigeria loses more than N2 billion annually due to inadequate and unreliable power supply, the United Nations Development Programme has said.

The UNDP Resident Representative, Elsie Attafuah, stated this on Monday during the ‘First National Legislative Conference and Expo on Renewable Energy’ held in Lagos.

The event was organised by the House of Representatives Committee on Renewable Energy in collaboration with the UNDP under its Parliamentary Development Programme.

Attafuah lamented that poor electricity has significantly impacted Nigeria’s economy, particularly in the agricultural sector. “Agricultural produce such as yam, fruits, and vegetables are being wasted as a result of poor power supply,” she added.

According to her, the situation has also worsened unemployment in the country. She noted that the UNDP’s intervention in the provision of power-generating facilities to farmers in some northern states has already begun to yield positive results, leading to increased participation and profit among farmers.

The Speaker of the House of Representatives, Tajudeen Abbas, who was also present at the conference, emphasised that transitioning to renewable energy was no longer optional for Nigeria.

“This conference marks a crucial step for the House of Representatives to engage in the global response to a critical challenge. We recognise that Nigeria and the global community must embrace a transformative shift towards sustainable energy systems,” Abbas said.

He described the move as essential not only for economic development and energy security, but also for building environmental resilience and ensuring a sustainable future. Punch