IBOV 172,758.89 ▼ 0.35% IPSA 10,877.68 ▼ 0.18% IPC MEX 66,125.27 ▼ 0.74% MERVAL 3,281,489 ▲ 1.79% COLCAP 2,309.56 ▲ 0.49% BVL PERÚ 56,620.35 — — USD/BRL5.08▼ 0.29% USD/MXN17.39▼ 0.21% USD/CLP933.02▼ 0.16% USD/COP3,236▼ 1.01% USD/PEN3.40▲ 0.14% USD/ARS1,477▼ 0.30% USD/UYU40.11▲ 1.23% USD/PYG6,045▲ 1.76% USD/BOB10.80▲ 2.69% USD/DOP58.02▲ 0.31% USD/CRC446.12▲ 1.15% USD/GTQ7.62▲ 2.33% USD/HNL26.74▲ 1.61% USD/NIO36.62▲ 0.84% USD/VES735.39▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.79▲ 0.73% USD/TTD6.73▲ 1.11% EUR/BRL5.79▼ 1.16% BRENT 91.49 ▲ 2.54% WTI 84.61 ▲ 1.66% IRON ORE 161.91 — — COPPER 6.54 ▲ 3.84% GOLD 4,085 ▲ 1.85% SILVER 59.41 ▲ 4.58% SOY 1,218 ▼ 0.65% CORN 472.25 ▲ 5.06% WHEAT 669.00 ▼ 0.74% COFFEE 326.70 ▼ 2.30% SUGAR 14.90 ▲ 0.54% ORANGE JUICE 147.80 ▲ 0.27% COTTON 80.03 ▲ 3.44% COCOA 5,582 ▲ 1.12% BEEF 223.45 ▼ 1.36% CATTLE 345.20 ▼ 1.93% LITHIUM 69.10 ▲ 3.26% PETR4 41.52 ▲ 0.90% VALE3 72.04 ▲ 0.15% ITUB4 42.35 ▲ 0.12% BBDC4 18.43 ▲ 0.11% ABEV3 15.82 ▲ 0.19% BBAS3 20.45 ▲ 1.39% B3SA3 15.03 ▼ 1.51% WEGE3 42.73 ▼ 0.93% PRIO3 58.58 ▲ 1.54% SUZB3 41.81 ▼ 0.19% RENT3 36.82 ▼ 1.79% AZZA3 17.76 ▼ 2.26% CSAN3 3.76 ▼ 1.57% RAIZ4 0.27 — 0.00% PCAR3 2.74 ▲ 5.38% GMAT3 3.83 ▼ 0.52% PSSA3 53.26 ▼ 1.73% CVCB3 1.15 ▲ 6.48% POSI3 3.77 ▲ 1.89% SLCE3 13.67 ▲ 0.74% NATU3 8.70 ▲ 0.81% BRKM5 5.89 ▼ 0.84% RANI3 7.87 ▼ 1.50% CSNA3 5.10 ▲ 0.59% CMIN3 5.44 ▲ 0.93% USIM5 8.31 ▲ 1.84% GGBR4 23.63 ▲ 0.04% ENEV3 25.26 ▼ 1.52% CPFE3 46.30 ▼ 0.04% CMIG4 10.99 ▼ 0.27% EQTL3 38.48 ▼ 2.06% LREN3 13.21 ▼ 0.75% VIVT3 35.59 ▼ 0.22% RAIL3 13.33 ▼ 1.77% KLABIN 17.43 ▼ 0.29% RAIA DROGASIL 18.44 ▼ 1.34% RDOR3 33.74 ▼ 4.82% HAPV3 11.26 ▼ 2.51% FLRY3 16.38 ▼ 1.09% SMTO3 15.41 — 0.00% UGPA3 31.48 ▼ 0.69% VBBR3 33.49 ▼ 1.82% BBSE3 41.17 ▲ 0.29% BPAC11 55.50 ▼ 0.61% CURY3 29.67 ▼ 1.72% AERI3 2.04 ▼ 1.45% VIVARA 21.44 ▼ 2.37% COMPASS 24.41 ▼ 0.77% VAMOS 3.14 ▲ 1.62% SANB11 27.31 ▲ 1.11% ASAI3 8.17 ▲ 0.37% SBSP3 28.47 ▼ 1.76% WALMEX 49.36 ▼ 0.04% GMEXICO 205.07 ▲ 2.11% FEMSA 226.89 ▼ 0.04% CEMEX 21.99 ▲ 0.50% GFNORTE 182.36 ▲ 1.31% BIMBO 59.32 ▼ 0.30% TELEVISA 9.82 ▲ 1.13% AMX 22.73 ▼ 0.04% GAP 379.61 ▲ 0.38% ASUR 272.45 ▼ 0.70% OMA 225.04 ▼ 0.62% KOF 181.26 ▲ 0.25% GRUMA 288.08 ▲ 0.17% KIMBER 38.09 ▼ 0.78% SQM-B 63,974 ▲ 1.35% COPEC 6,360 ▲ 2.58% BSANTANDER 78.51 ▲ 3.18% FALABELLA 5,883 ▲ 0.14% ENELAM 84.30 ▲ 0.23% CENCOSUD 2,015 ▲ 1.01% CMPC 1,085 ▲ 1.78% BANCO CHILE 189.40 ▲ 1.56% LATAM AIR 24.49 ▲ 0.33% YPF 80,550 ▲ 1.70% GGAL 7,975 ▲ 1.66% PAMPA 5,495 ▲ 4.27% TXAR 667.50 ▼ 0.45% ALUAR 965.50 ▲ 0.63% TGS 9,620 ▲ 1.26% CEPU 2,333 ▲ 1.92% MIRGOR 16,725 ▼ 2.34% COME 43.25 ▲ 0.70% LOMA NEGRA 3,645 ▲ 2.03% BYMA 293.50 ▼ 0.09% TELECOM ARG 4,225 ▲ 1.93% ECOPETROL 16.57 ▲ 3.37% BANCOLOMBIA 81.99 ▲ 1.45% GRUPO AVAL 4.99 ▲ 0.81% CREDICORP 392.85 ▲ 1.55% SOUTHERN COPPER 183.72 ▲ 4.94% BUENAVENTURA 31.05 ▲ 3.29% MERCADOLIBRE 1,812 ▼ 1.10% NUBANK 14.19 ▲ 1.39% XP 16.60 ▼ 1.22% PAGSEGURO 9.39 ▲ 1.02% STONE 11.05 ▼ 0.59% GLOBANT 32.40 ▲ 0.34% TECNOGLASS 45.71 ▼ 0.88% GAP AIRPORT 217.97 ▲ 0.39% ASUR 272.45 ▼ 0.70% OMA AIRPORT 103.62 ▼ 0.38% AMX ADR 26.07 ▼ 0.11% FEMSA ADR 130.47 ▲ 0.35% CEMEX ADR 12.62 ▲ 1.04% PETROBRAS ADR 18.44 ▲ 1.35% VALE ADR 14.17 ▲ 0.46% ITAU ADR 8.34 ▲ 0.18% SANTANDER BR 5.40 ▲ 0.56% AMBEV ADR 3.10 ▲ 0.65% CSN 1.02 ▲ 0.50% GERDAU 4.68 — 0.00% LATAM ADR 52.55 ▲ 1.56% BTC 66,644 ▲ 2.17% ETH 1,928 ▲ 1.27% SOL 78.02 ▲ 0.29% XRP 1.15 ▲ 3.86% BNB 574.92 ▲ 0.73% ADA 0.17 ▲ 2.90% DOGE 0.07 ▲ 1.72% AVAX 6.62 ▲ 0.67% LINK 8.69 ▲ 1.21% DOT 0.85 ▲ 3.25% LTC 47.82 ▲ 1.02% BCH 225.48 ▲ 2.54% TRX 0.33 ▲ 0.54% XLM 0.19 ▲ 2.60% HBAR 0.07 ▲ 3.11% NEAR 1.96 ▼ 1.04% ATOM 1.49 ▼ 0.07% AAVE 95.50 ▲ 6.38% SELIC 14.25% EMBRAER 82.56 ▼ 0.88% EMBRAER ADR 64.97 ▼ 1.46% JBS 11.81 ▼ 1.83% JBS BDR 59.82 ▼ 1.60% MBRF3 15.04 ▲ 3.58% MBRFY 2.96 ▲ 1.72% INTER 5.55 ▼ 1.33% EGX 53,990 ▲ 1.63% USD/ZAR16.46▼ 0.41% USD/NGN1,376▼ 0.27% NIKKEI 66,232 ▲ 3.26% CSI300 4,739 ▲ 3.06% HSI 25,132 ▼ 0.04% NIFTY 24,188 ▼ 0.21% KOSPI 6,748 ▲ 3.56% JCI 6,340 ▲ 1.74% USD/JPY163.02▲ 0.32% USD/CNY6.76▼ 0.17% DAX 25,011 ▲ 0.66% CAC 8,363 ▲ 0.28% FTSE 10,586 ▲ 0.58% MIB 52,285 ▲ 0.81% IBEX 19,380 ▲ 0.90% STOXX 643.19 ▲ 0.56% EUR/USD1.14▼ 0.06% GBP/USD1.34▼ 0.54% SPX 7,504 ▲ 0.82% DJI 52,210 ▲ 0.71% NDX 29,122 ▲ 1.81% RUT 2,972 ▲ 1.02% TSX 35,268 ▲ 0.88% VIX 17.22 ▼ 7.67% USD/CAD1.41▲ 0.21% US10Y 4.6180 ▲ 0.43% IBOV 172,758.89 ▼ 0.35% IPSA 10,877.68 ▼ 0.18% IPC MEX 66,125.27 ▼ 0.74% MERVAL 3,281,489 ▲ 1.79% COLCAP 2,309.56 ▲ 0.49% BVL PERÚ 56,620.35 — — USD/BRL 5.07 ▼ 0.31% USD/MXN 17.39 ▼ 0.21% USD/CLP 933.02 ▼ 0.16% USD/COP 3,236 ▼ 1.01% USD/PEN 3.40 ▲ 0.14% USD/ARS 1,477 ▼ 0.30% USD/UYU 40.11 ▲ 1.23% USD/PYG 6,045 ▲ 1.76% USD/BOB 10.80 ▲ 2.69% USD/DOP 58.02 ▲ 0.31% USD/CRC 446.12 ▲ 1.15% USD/GTQ 7.62 ▲ 2.33% USD/HNL 26.74 ▲ 1.61% USD/NIO 36.62 ▲ 0.84% USD/VES 735.39 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.79 ▲ 0.73% USD/TTD 6.73 ▲ 1.11% EUR/BRL 5.79 ▼ 1.16% BRENT 91.49 ▲ 2.54% WTI 84.61 ▲ 1.66% IRON ORE 161.91 — — COPPER 6.54 ▲ 3.84% GOLD 4,085 ▲ 1.85% SILVER 59.41 ▲ 4.58% SOY 1,218 ▼ 0.65% CORN 472.25 ▲ 5.06% WHEAT 669.00 ▼ 0.74% COFFEE 326.70 ▼ 2.30% SUGAR 14.90 ▲ 0.54% ORANGE JUICE 147.80 ▲ 0.27% COTTON 80.03 ▲ 3.44% COCOA 5,582 ▲ 1.12% BEEF 223.45 ▼ 1.36% CATTLE 345.20 ▼ 1.93% LITHIUM 69.10 ▲ 3.26% PETR4 41.52 ▲ 0.90% VALE3 72.04 ▲ 0.15% ITUB4 42.35 ▲ 0.12% BBDC4 18.43 ▲ 0.11% ABEV3 15.82 ▲ 0.19% BBAS3 20.45 ▲ 1.39% B3SA3 15.03 ▼ 1.51% WEGE3 42.73 ▼ 0.93% PRIO3 58.58 ▲ 1.54% SUZB3 41.81 ▼ 0.19% RENT3 36.82 ▼ 1.79% AZZA3 17.76 ▼ 2.26% CSAN3 3.76 ▼ 1.57% RAIZ4 0.27 — 0.00% PCAR3 2.74 ▲ 5.38% GMAT3 3.83 ▼ 0.52% PSSA3 53.26 ▼ 1.73% CVCB3 1.15 ▲ 6.48% POSI3 3.77 ▲ 1.89% SLCE3 13.67 ▲ 0.74% NATU3 8.70 ▲ 0.81% BRKM5 5.89 ▼ 0.84% RANI3 7.87 ▼ 1.50% CSNA3 5.10 ▲ 0.59% CMIN3 5.44 ▲ 0.93% USIM5 8.31 ▲ 1.84% GGBR4 23.63 ▲ 0.04% ENEV3 25.26 ▼ 1.52% CPFE3 46.30 ▼ 0.04% CMIG4 10.99 ▼ 0.27% EQTL3 38.48 ▼ 2.06% LREN3 13.21 ▼ 0.75% VIVT3 35.59 ▼ 0.22% RAIL3 13.33 ▼ 1.77% KLABIN 17.43 ▼ 0.29% RAIA DROGASIL 18.44 ▼ 1.34% RDOR3 33.74 ▼ 4.82% HAPV3 11.26 ▼ 2.51% FLRY3 16.38 ▼ 1.09% SMTO3 15.41 — 0.00% UGPA3 31.48 ▼ 0.69% VBBR3 33.49 ▼ 1.82% BBSE3 41.17 ▲ 0.29% BPAC11 55.50 ▼ 0.61% CURY3 29.67 ▼ 1.72% AERI3 2.04 ▼ 1.45% VIVARA 21.44 ▼ 2.37% COMPASS 24.41 ▼ 0.77% VAMOS 3.14 ▲ 1.62% SANB11 27.31 ▲ 1.11% ASAI3 8.17 ▲ 0.37% SBSP3 28.47 ▼ 1.76% WALMEX 49.36 ▼ 0.04% GMEXICO 205.07 ▲ 2.11% FEMSA 226.89 ▼ 0.04% CEMEX 21.99 ▲ 0.50% GFNORTE 182.36 ▲ 1.31% BIMBO 59.32 ▼ 0.30% TELEVISA 9.82 ▲ 1.13% AMX 22.73 ▼ 0.04% GAP 379.61 ▲ 0.38% ASUR 272.45 ▼ 0.70% OMA 225.04 ▼ 0.62% KOF 181.26 ▲ 0.25% GRUMA 288.08 ▲ 0.17% KIMBER 38.09 ▼ 0.78% SQM-B 63,974 ▲ 1.35% COPEC 6,360 ▲ 2.58% BSANTANDER 78.51 ▲ 3.18% FALABELLA 5,883 ▲ 0.14% ENELAM 84.30 ▲ 0.23% CENCOSUD 2,015 ▲ 1.01% CMPC 1,085 ▲ 1.78% BANCO CHILE 189.40 ▲ 1.56% LATAM AIR 24.49 ▲ 0.33% YPF 80,550 ▲ 1.70% GGAL 7,975 ▲ 1.66% PAMPA 5,495 ▲ 4.27% TXAR 667.50 ▼ 0.45% ALUAR 965.50 ▲ 0.63% TGS 9,620 ▲ 1.26% CEPU 2,333 ▲ 1.92% MIRGOR 16,725 ▼ 2.34% COME 43.25 ▲ 0.70% LOMA NEGRA 3,645 ▲ 2.03% BYMA 293.50 ▼ 0.09% TELECOM ARG 4,225 ▲ 1.93% ECOPETROL 16.57 ▲ 3.37% BANCOLOMBIA 81.99 ▲ 1.45% GRUPO AVAL 4.99 ▲ 0.81% CREDICORP 392.85 ▲ 1.55% SOUTHERN COPPER 183.72 ▲ 4.94% BUENAVENTURA 31.05 ▲ 3.29% MERCADOLIBRE 1,812 ▼ 1.10% NUBANK 14.19 ▲ 1.39% XP 16.60 ▼ 1.22% PAGSEGURO 9.39 ▲ 1.02% STONE 11.05 ▼ 0.59% GLOBANT 32.40 ▲ 0.34% TECNOGLASS 45.71 ▼ 0.88% GAP AIRPORT 217.97 ▲ 0.39% ASUR 272.45 ▼ 0.70% OMA AIRPORT 103.62 ▼ 0.38% AMX ADR 26.07 ▼ 0.11% FEMSA ADR 130.47 ▲ 0.35% CEMEX ADR 12.62 ▲ 1.04% PETROBRAS ADR 18.44 ▲ 1.35% VALE ADR 14.17 ▲ 0.46% ITAU ADR 8.34 ▲ 0.18% SANTANDER BR 5.40 ▲ 0.56% AMBEV ADR 3.10 ▲ 0.65% CSN 1.02 ▲ 0.50% GERDAU 4.68 — 0.00% LATAM ADR 52.55 ▲ 1.56% BTC 66,644 ▲ 2.17% ETH 1,928 ▲ 1.27% SOL 78.02 ▲ 0.29% XRP 1.15 ▲ 3.86% BNB 574.92 ▲ 0.73% ADA 0.17 ▲ 2.90% DOGE 0.07 ▲ 1.72% AVAX 6.62 ▲ 0.67% LINK 8.69 ▲ 1.21% DOT 0.85 ▲ 3.25% LTC 47.82 ▲ 1.02% BCH 225.48 ▲ 2.54% TRX 0.33 ▲ 0.54% XLM 0.19 ▲ 2.60% HBAR 0.07 ▲ 3.11% NEAR 1.96 ▼ 1.04% ATOM 1.49 ▼ 0.07% AAVE 95.50 ▲ 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Tuesday, July 21, 2026

Africa Western Africa

Billions Spent, Blackouts Persist: Nigeria’s Electricity Crisis

By · October 21, 2024 · 2 min read

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Nigeria’s electricity sector has faced significant challenges over the past ten years. The country has experienced a staggering 105 national grid collapses during this period.

These frequent power outages have occurred despite substantial investments in the sector. The administrations of President Bola Tinubu and his predecessor Muhammadu Buhari have overseen these grid failures.

During this time, Nigeria secured loans totaling $1.4 billion specifically for power sector improvements. These funds were meant to address the ongoing issues plaguing the country’s electricity supply.

According to research by Punch newspapers, Nigeria obtained about ten loans from the World Bank. The total value of these loans reached $4.36 billion over the past decade.

These funds were intended to tackle key challenges in the power sector. Not all of the World Bank loans have been fully disbursed yet.

Billions Spent, Blackouts Persist: Nigeria's Electricity Crisis
Billions Spent, Blackouts Persist: Nigeria’s Electricity Crisis. (Photo Internet reproduction)
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However, the Nigerian government and other multilateral agencies have provided significant financial support to the power sector.

Challenges in Nigeria’s Power Sector

Billions of naira have been invested to revitalize the industry. Despite these substantial investments, the power sector continues to struggle.

The frequent grid collapses have resulted in widespread blackouts across the country. These outages have had a severe impact on both businesses and households.

Data from various sources, including the Nigerian Electricity Regulatory Commission (NERC), reveals a troubling pattern. During the eight-year rule of former President Muhammadu Buhari, the grid collapsed approximately 93 times.

This period spans from June 2015 to May 2023. The national power grid is a complex network of electrical transmission lines.

It connects power stations to end-user customers throughout Nigeria. The grid is designed to operate within specific stability boundaries.

These boundaries include voltage and frequency parameters. The voltage should remain at 330 kV, plus or minus 5.0 percent.

The frequency should stay at 50 Hz, plus or minus 0.5 percent. Any deviation from these ranges can lead to decreased power quality.

In severe cases, these deviations can cause widespread power outages. These outages can range from partial collapses of grid sections to full system failures.

The balance between electricity supply and demand is crucial for grid stability. When demand exceeds supply, the grid frequency drops.

Conversely, when supply surpasses demand, the frequency increases. If the frequency falls too low, safety settings on generation units may trigger shutdowns.

These shutdowns can worsen the frequency imbalance on the grid. This situation often leads to more generation units shutting down. The result is either a partial or complete system collapse.

The frequent grid collapses highlight the ongoing challenges in Nigeria’s power sector. Despite significant financial investments, the country continues to struggle with reliable electricity supply.

In short, this issue remains a major obstacle to Nigeria’s economic development and quality of life for its citizens.

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