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Nigerians spend N16.5 trillion to buy generators and others in 2023

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Nigerians spent a total of N16.5 trillion to buy diesel, petrol, and generators to get electricity in 2023.

The Minister of Power, Adebayo Adelabu, who announced this at the ongoing 2024 Nigeria Oil and Gas conference in Abuja, also said formal power sector, including electricity generation, transmission, and distribution companies, made a total revenue of N1tn last year amid the over N16tn spent by power consumers in the informal sector.

He, however, noted that electricity consumers on Band A category now get up to 24 hours supply of power.

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