Nigeria: After the national electricity grid collapsed, Nigeria witnessed power outages and blackouts, and the electricity was distributed in many parts, as per the distribution companies. The year has witnessed the collapse of the power grid at least four times. The authorities have blamed the technical problems.
Earlier last month also witnessed a power outage after the Transmission Company of Nigeria (TCN) went on strike and temporarily shut down the grid. Discos- popularly known as the electricity distribution firms, asserted that the outage happened earlier on Monday. The company has been working with TCN in order to restore the supply of electricity. However, they did not share any update regarding the cause of the power outage.
While installing the capacity of 12,500 megawatts, Nigeria also produces electricity. It produces about a quarter of that, leaving many Nigerians and businesses reliant on diesel-powered generators. Diesel prices have soared since the start of the year.
The nation’s sclerotic power grid, and its precarious energy supply, are often cited by businesses as a key issue hindering growth in Africa’s most populous country.
President Biden urged fuel retailers to reduce the prices at which they sell their products, once again noting the profits that oil industry players were making because of higher oil prices.
“My message is simple,” the U.S. president said, as quoted by Bloomberg. “To the companies running gas stations and setting those prices at the pump: Bring down the prices you’re charging at the pump to reflect the cost you pay for the product. Do it now.”
