Nigeria’s power sector lost a total of N2,016,695,000,000, in the last four years as a result of distribution and transmission constraints, as well as shortage of gas to the generating plants, the operational records of the sector obtained from the Office of the Vice President, Prof. Yemi Osinbajo, have shown.

According to the records from the Advisory Power Team in the vice president’s office, over N2.016 trillion could not be earned by the sector from May 29, 2015 to May 4, 2019, just about 25 days to the May 29 take-off of the second term of the present administration.

This is coming as the power generation companies (gencos) under the aegis of the Association of Power Generation Companies (APGC), have revealed that some gencos have been forced by the chronic financial challenges of the sector to file force majeure to the Bureau of Public Enterprises (BPE).

In the power sector, a force majeure is filed by companies or operators to free themselves of any legal actions when they are not able to meet their contractual obligations as a result of some natural and unnatural circumstances beyond their control.

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