The importance of energy stability and efficiency cannot be overemphasized for the advancement and development for economies across the world.
Its use is very crucial to all sectors of the economy and as such, it is trite that all countries have uninterrupted energy supply for proper functioning. However, we cannot effectively boast of uninterrupted power supply in Nigeria as the national grid has collapsed for the second time in two years. Due to this, we have experienced abysmal power generation by the electricity generation companies (GenCos) across the country and this has adversely affected the production activities of all sectors in the country.
The poor power supply which has resulted in losses to various sectors of the economy is directly linked to the high rate of poverty in the country. This reveals the fact that energy supply plays a pivotal role in reducing the high rate of poverty in developing countries such as Nigeria and in order to combat this unceasing issue of unstable power supply, the United Nations brought about the sustainable development goal 7 which ensures access to affordable, reliable, sustainable and modern energy to all.
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