Nigeria will lose more revenues from energy exports once the Niger Republic starts generating her own electricity.
Aside from the Niger Republic, the country, according to the Federal Ministry of Power, exports electricity valued at between $582 million and $665 million annually to countries such as Togo, Chad, and the Benin Republic.
Speaking on the side of a stakeholder’s forum in Lagos, the Technical Director, Consistent Energy Limited, Mr. Mohammed Etti, said Nigeria’s export earnings would dip further once the Niger Republic starts generating electricity.
He said: “If Nigeria allows the Niger Republic to dam River Niger at Fouta Djullion for her own electricity needs, the country would not be able to export electricity to the Niger Republic and that would go a long way to reduce Nigeria’s earnings.”
The Ministry of Power had quoted the Managing Director, Transmission Company of Nigeria (TCN), Mr. Usman Mohammed, as saying the country exports 80% of her electricity to other countries in West Africa to improve power supply to the sub-region.
He was quoted to have said the issue is inhibiting the growth of the economy, as well as making it difficult for Nigeria to realize her potentials.