Nigerians spend an estimated N3.5 trillion yearly on fueling generators to meet commercial and domestic needs , as grid power is seriously inadequate. A report from GIZ, a German-based firm, said generators provide alternative source of energy and further improves economic activities for the country.
The firm, which specialises in offering solutions to countries in solar and other forms of renewable energies, in a report, made available to The Nation, said Nigeria was one of the major importers of generating sets in Africa, noting that the country has spent huge amounts of money on buying, using and servicing generators.
It said Nigeria has been spending between N3trillion and N3.5trillion yearly on fueling generators in the past three years, adding that the country mostly imports generators from Asian countries such as China, Japan and others.
The firm said it was working on a study that would capture the expenditure incurred on importation and maintenance of generators in Nigeria and other African countries for 2016, adding that generators consume huge volumes of fuel after automobiles in Nigeria because power supply is not regular.
It said Perkins and other brands were used by manufacturers because they help in sustaining production activities.
The President, Renewable Energy Association of Nigeria (REAN), Mr. Segun Adaju, said the N800billion given by the Nigerian Bureau of Statistics (NBS) as the expenditure on fueling generators in a year was small when one considers the fact that the country was running what he described as a