Nigeria Loses ₦8bn Monthly to Power Inefficiencies

Engr. Mohammed Bello, Managing Director and Chief Executive Officer of the Nigerian Independent System Operator (NISO), stated that Nigeria incurs a loss of ₦8 billion monthly due to power inefficiencies.

Speaking at a town hall meeting in Abuja to commemorate NISO's first anniversary, Bello highlighted the agency's progress in strengthening grid operations and improving market coordination. NISO was established under the Electric Power Sector Reform Act of 2023 to oversee system operations and market administration.

Over the past year, NISO has focused on developing a credible independent system operator capable of driving efficiency across the electricity value chain. Key achievements include the deployment of technology for real-time monitoring of the national grid and the implementation of a Supervisory Control and Data Acquisition (SCADA) system.

Bello noted ongoing challenges, including high distribution losses nearing 10%, and emphasized the need for interventions to reduce these losses. NISO aims to enhance market compliance and support the transition to a decentralized electricity market.