The Director-General of Centre for Management Development, Kabir Usman has disclosed that about 60 million Nigerians spend N1.6 trillion on generators annually.
He also said that Nigeria had the highest number of standby generators, which had become permanent, making the Power Holding Company of Nigeria (PHCN) the standby.
Mr Usman disclosed this at the launch of the National Power Training Institute of Nigeria (NAPTIN) graduate skills development programme in Abuja, on Monday.
He noted that the presence of too many generators has also been the cause of many deaths in the nation as a result of carbon monoxide emission.
“Still on the use of generating sets as alternative sources of electricity, it is no news that irregular power supply has adversely affected businesses in Nigeria,” he said.
Mr Usman revealed that Nigeria’s highly inadequate supply of electricity adds 40 percent to the cost of goods produced in the country.
According to him, “the situation has compelled many industries to either shut down or relocate to neighbouring countries.”
He said that the poorest Nigerians paid more than N80/kwh burning candles, kerosene and firewood while manufacturers paid between N45 and N60/kwh on diesel to run their generators.
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