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Leading Nigeria’s energy analysts have argued that the recent back-to-back collapse of the nation’s national power grid remains a serious setback for the ongoing investment drive by President Bola Tinubu from recently in India, UAE to currently in United States.

Recall that Nigeria’s national grid collapsed once more on Tuesday when power generation crashed from a peak of 3,594.60 megawatts at midnight to an alarming low of 42.7MW by midday.

Subsequently, at noon, only the Delta Power plant was operational on the grid, contributing 41MW, while Afam generated 1.7MW.

The grid failure was particularly impactful on the commercial hub of Lagos, where power supply was lost at 11:32 am. The incident is now attributed to a nationwide system collapse.

This marks the third grid collapse in less than a month, following two incidents just five days ago, which left the nation in total darkness for extended periods.

The recurring grid collapses have had severe consequences, leading to a nationwide blackout and depriving many Nigerians of electricity. The Transmission Company of Nigeria (TCN) has yet to issue a statement explaining the cause of this latest collapse. However, it is believed to be linked to infrastructure limitations, challenges in gas supply, and constraints within the transmission system.

These grid failures pose a significant setback to the nation’s economic and developmental progress. The country is estimated to suffer substantial financial losses annually due to power interruptions.

Besides, the outages negatively affect the daily lives of Nigerians, hindering their ability to work, study, and conduct business activities nationwide.

By Business Hilights

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.

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