A profitable business it has been for Nigerians but not for Nigeria. Recently, the energy sector was privatised, hopefully it was to follow the success stories of China, South Africa, Brazil, India and a host of others. However, the story hasn't gotten much better.
The fact is very embarrassing, converting Terawatts to Megawatts for a clearer understanding, I will show you how embarrassing things are
South Africa: 34,000MW (from coal alone)
Nigeria: 5,074.7MW (Higest ever)
In 2003 a contract was awarded by NEPA to supply about 3 million meters for N37 billion, at 2016, 14 years later the contract has not been performed. The privatization happened on top of all this dishonesty, bad equipment, insufficient meters and human interference.
To get somewhere you need to know where you're now. Where we're isn't good at all, imagine what could be produced in Nigeria for the world if we had a quarter of what India has in terms of energy?