Port harcourt disco says loses n238bn monthly theft

A shocking revelation!

According to reports, the Port Harcourt Electricity Distribution Company (PHEDC) has lost a staggering N238 billion (approximately $650 million USD) to monthly theft of electricity. This is a massive financial blow to the company and a significant setback for the Nigerian power sector.

Theft of electricity, also known as energy theft, is a widespread problem in Nigeria, where many consumers bypass meters or tamper with them to avoid paying for the electricity they consume. This illegal activity not only deprives the power company of revenue but also poses a significant risk to the safety and reliability of the power grid.

The PHEDC has attributed the massive losses to the increasing cases of energy theft, which has become a major challenge for the company. The company's Managing Director, Mr. Henry Njoku, has called on the government and relevant authorities to take urgent action to address the issue.

The impact of energy theft on the power sector is far-reaching, as it not only affects the financial sustainability of power companies but also undermines the overall efficiency and reliability of the power supply. It is essential that the government and relevant authorities take concrete steps to address this issue and ensure that power companies can operate viably and provide reliable electricity to consumers.

What do you think should be done to address the issue of energy theft in Nigeria?