Business
Nigeria’s power plants operated at 86% capacity in August — NERC
The latest operational performance report by the Nigerian Electricity Regulatory Commission (NERC) has shown that Nigeria’s grid-connected power plants operated at an average of 86 per cent of their available capacity in August 2026.
This was one of the major highlights of the NERC’s August 2026 factsheet report published on Thursday. The report showed that Nigeria’s power plants had an average available capacity of 4,758 megawatts (MW) during the month under review, while average hourly generation was pegged at 4,102MW.
According to the report, about 656MW of the available generation capacity was not utilised on average during the period.
Among the major energy producers, Kainji_1 recorded a 98 per cent load factor, generating 345MW out of 352MW available capacity, while Afam_2 recorded 99 per cent, with 262MW generated against 265MW available.
It said Egbin_1 operated at 96 per cent, generating 333MW from 347MW of available capacity, while Ihovbor_2 recorded 92 per cent, generating 418MW from 454MW of available capacity.
Other major plants listed included Delta_1 at 80 per cent load factor, Zungeru_1 at 72 per cent, Odukpani_1 at 74 per cent, Shiroro_1 at 87 per cent, Jebba_1 at 83 per cent, and Okpai_1 at 87 per cent.
Frequency, voltage stability breached limits
Despite the relatively high utilisation rate, NERC reported breaches of prescribed grid frequency and voltage limits during the month.
The commission said the average lower grid frequency was 49.34Hz, while the average upper grid frequency was 50.67Hz, exceeding the prescribed operating range of 49.75Hz to 50.25Hz.
Similarly, it noted that the monthly average lower grid voltage was recorded at 302.29 kilovolts (kV), while the average upper grid voltage stood at 349.68kV.
NERC said both figures exceeded the prescribed voltage range of 313.50kV to 346.50kV.
The data showed significant differences in plant utilisation.
Olorunsogo_1 recorded a 100 per cent load factor, generating 115MW from 115MW of available capacity. Omoku_1 and Igbafо_1 also recorded 100 per cent utilisation.
Omotosho_1 generated 148MW from 149MW available, representing a 99 per cent load factor, while Dadin-Kowa_1 recorded 98 per cent after generating 35MW from 36MW available.
READ ALSO: DisCos bill N250.79bn, collect N205.53bn in July — NERC
However, some plants recorded substantially lower utilisation. Afam_1 operated at 67 per cent, while Ikeja_1 recorded 76 per cent and Ihovbor_1 79 per cent.
Several listed plants recorded zero generation during the month, including Sapele_2, Alaoji_1, Geregu_2 and Ibom Power_1.
The commission’s data also showed that Olorunsogo_2 generated 87MW from 109MW available, while Sapele_1 generated 25MW from 27MW available.
Overall, the August figures indicate a grid operating at relatively high utilisation of available generating capacity, while frequency and voltage excursions remained notable operational issues.
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Business
Subsidy Return: International investors, markets have written off Nigerian opposition politicians as unserious, says Oyedele
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said on Saturday that international investors and markets have written off Nigerian opposition politicians calling for a return to the subsidy regime.
Mr Oyedele spoke on the sidelines of the World Bank/IMF meetings in Bangkok, Thailand.
The minister responded to questions about how the government hopes to balance the needs of the investment community with domestic concerns among citizens.
“The second point I want to make, and hopefully this will not be misinterpreted, is that, in having all those meetings (with global development and financial organisations, investors and market leaders), I concluded that the markets, including the domestic market—because that you can read from the capital markets—and the international markets, have largely, largely written off the opposition in Nigeria as being unserious. That is why they have not priced in the proposed return of subsidy,” Mr Oyedele said.
“And the reason why you know what I’m saying is right is, God forbid a bad thing, if Mr President says today, ‘we are considering subsidy’, you will see the reflection in price. So maybe it’s good that the international community and the domestic capital markets are aware of who is sincere with Nigerian people and what direction of travel they should take.”
Nigeria has introduced a series of reforms the government said focused on fixing the economy’s structure. However, the impact has been enormous for many Nigerians grappling with the cost-of-living crisis. The government introduced reforms in the foreign exchange market, abolished what it termed a wasteful, corruption-ridden subsidy regime amid fiscal pressures, and institutionalised tax reforms.
While the Nigerian government, led by President Bola Tinubu, has defended its economic policy of subsidy removal as critical to the nation’s fiscal survival, opposition politicians—such as Atiku Abubakar of the ADC and Peter Obi of the NDC—have canvassed for and promised a return to different subsidy arrangements if elected into power.
Opposition
In August, Atiku said he believed a country’s progress and wealth should be measured by citizens’ ability to buy goods and services, not by how much revenue the government collects.
“On the question of subsidy, my position has not changed and will not change: I will restore it! A nation as blessed as ours has no business abandoning its citizens to hardship. Nigeria is rich enough to look after her own,” the former vice president vowed.
Mr Obi, who on his part had earlier warned that subsidy was an “organised crime” that would be removed, made a U-turn in a BBC interview on Tuesday, 6 October, saying he would restore the subsidy if elected president.
He argued that the subsidy regime’s major problem was the corruption surrounding its implementation.
“I’ll remove the corruption and retain the subsidy,” he said.
Mr Obi also explained how he intended to tackle corruption, arguing that his anti-corruption strategy would centre on the president’s conduct and that of his immediate family.
“If you are not stealing, if you are not involved, your wife and family are not involved, you reduce it by 50 per cent,” the presidential candidate said.
READ ALSO: No return to fuel subsidy, multiple exchange rates, Oyedele insists
Messrs Obi and Atiku are the leading opposition figures in Nigeria’s next general elections scheduled for January 2027. Previously, both opposition figures had been unequivocal about removing the petrol subsidy.
PREMIUM TIMES reported earlier on Saturday that Mr Oyedele said there will be no return to subsidy regimes, adding that the 30-day retail margin discount introduced by the government isn’t a subsidy arrangement.
“And let me be clear as well, this was a recurring question almost through all our engagements, but also with the rating agencies, with the investors, and the multilateral institutions. Every time they ask, are you reversing your plans? Are you bringing back subsidies? Let me be clear, there will be no return to fuel subsidies or multiple exchange rates,” he said.
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