WATCH THE VIDEO HERE The Nigerian electricity sector slowed in the fourth quarter of 2024 (Q4 2024), with the electricity production index declining by 1.64% year-on-year (y-o-y). Data from the Central Bank of Nigeria (CBN) says this marks a reversal from the 5.55% growth recorded in the third quarter of 2024 (Q3 2024). Average estimated electricity generation rose by 2.34% to 4,206.50 megawatts per hour (MW/h) from 4,110.47 MW/h in Q3 2024. Similarly, electricity consumption saw a modest increase of 2.63%, reaching 4,105.66 MW/h from 4,000.24 MW/h in the preceding quarter. This is as the Nigerian economy witnessed widespread expansion in the fourth quarter of 2024 (Q4 2024), with 21 out of 22 subsectors recording positive growth.
Power generation faces downturn, falls by 1.64% – CBN
