Generator manufacturers and distributors took advantage of the dwindling electricity supply and demand gap in Nigeria to import 75-375 KVA diesel generating sets valued at over US$51 million(about N10 billion) to power the country’s factories, telecommunication towers, homes and offices between 2014 and 2015.
Data on Genset Import/Export Trade, obtained by Vanguard from United Nations Statistics Division, showed that manufacturers of generators, the ilk of General Electric, Cummins, FG .Wilsons; Siemens, and other major power firms, brought into the country differs worth $51.055 million in 2014/2015, and the figure is projected to hit $450 million by 2020.
Analysis of the data showed that Nigeria is the second biggest market for generator driven economy in Africa, after Egypt whose import stood at $58.6 million, followed by Ethiopia $19.9 million; South Africa $18.6 million and Congo $6.9 million. Others are Zimbabwe $5.4 million, Niger $5.3 million and Mozambique $4.4 million. Investigation further revealed that the demand for generators is being driven by long years of epileptic power supply to industries and homes despite the privatisation of parts of the country’s electricity industry.