Electricity theft: Nigerian Govt probes N120bn annual revenue loss

The Federal Government said it has launched a crackdown connected monolithic vigor theft on the 132-kilovolt Ikorodu–Sagamu concern corridor, wherever unaccounted powerfulness losses person climbed to 100 megawatts, inflicting an estimated yearly gross nonaccomplishment of N120 cardinal connected the energy market.

The Minister of Power, Joseph Tegbe, announced the involution on Friday during a high-level stakeholders gathering with concern operators, cardinal marketplace participants.and vigor regulators successful Lagos.

Addressing the gathering, Tegbe issued a steadfast directive mandating a transparent, science-based probe into the important discrepancies betwixt the measurement of energy transmitted on the axis and the vigor officially billed and accounted for by organisation companies.

The Ikorodu–Sagamu corridor has rapidly expanded into 1 of Nigeria’s superior concern manufacturing hubs, serving large dense consumers.

However, enhanced visibility from technological monitoring tools deployed by the Nigerian Independent System Operator, NISO, exposed troubling loading anomalies and terrible commercialized losses crossed the network.

Reaffirming the administration’s committedness to concern maturation nether President Bola Tinubu, the curate assured manufacturers of sustained powerfulness proviso portion maintaining that uninterrupted vigor proviso indispensable beryllium matched with strict acco...