BUSINESS HALLMARK
These generators consume 16 billion litres of fuel annually, costing Lagosians about N14 trillion at today’s average price of N900 per litre.
Lagos residents spend an estimated N14 trillion annually on fueling generators, according to the Lagos State Commissioner for Energy and Mineral Resources, Biodun Ogunleye.
Speaking at the Lagos Energy Summit themed “The Journey to Energy for All,” Ogunleye revealed a recent study found over 4.5 million generators consume 16 billion litres of fuel annually.
“These generators consume 16 billion litres of fuel annually, costing Lagosians about N14 trillion at today’s average price of N900 per litre,” he said.
He noted they emit 38 million tonnes of carbon monoxide annually — more than countries like Rwanda or Gabon.
Governor Babajide Sanwo-Olu described the national electricity crisis as “a shame for all of us.”
Former Power Minister Barth Nnaji urged the federal government to harness Nigeria’s gas reserves. “If we can’t use that to power our nation, we cannot grow our GDP or prosper,” he warned.
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