Nigeria lost N2.376trn to grid underutilisation in 11 years ― NISO

The Nigerian Independent System Operator (NISO) has disclosed that the country lost over N2.376 trillion to power sector grid underutilisation in capacity payments since 2015.

The Managing Director/Chief Executive Officer of NISO, Abdu Bello, made this known while speaking at the 11th Nigeria Energy Forum 2026 (NEF-2026) Conference in Lagos on Monday, July 6, 2026.

Bello, who was represented by NISO’s General Manager, Research, Deji Ojo, said the establishment of NISO was repositioning the power sector from infrastructure expansion towards operational excellence, market efficiency, reliability, and industrial competitiveness.

Bello said as of May 2026, Nigeria had an available generation capacity of 7,311 Megawatts (MW), but the average dispatched generation that was produced and translated into economic value was just 4,222 MW.

“You will discover that about 3,162 MW is stranded capacity and not being converted to economic use,” he said, adding that the major goal of NISO was to translate the existing megawatts into economic use.

Over 1.1m Nigerians exit discos as power costs rise

Also speaking at the event, the Group Managing Director (GMD) of Odu’a Investment Company Limited, Abdulrahman Yinusa, said reliable power was the entry ticket to industrial growth.

Yinusa, who was represented by the Executive Director, Investment and Business Development, Yemi Ajao, said Nigeria sits on the raw materials the world wants most.

“The question is whether we turn them into finished products or keep giving them away cheaply,” he said.

The Chief Executive Officer of All On, Caroline Eboumbou, said Nigeria’s energy future would be shaped not only by policy or investment, but by the ingenuity of the people.

“That is why our partnership with the Tertiary Institutions Student Energy Challenge (TIEC) has been so meaningful,” Eboumbou stated.