Nigeria needs 20,000 MW of electricity
Nigeria needs at least 20,000 MW of electricity to drive its industrial, economic and social activities, says the country's leading power generating company.
Image source: ESI Africa
Nigeria, Abuja: Nigeria needs at least 20,000 MW of electricity to drive its industrial, economic and social activities, says the country’s leading power generating company.
Transcorp Power Limited CEO Christopher Ezeafuluwke has emphasized on the need to intensify the investments that would tackle the power challenges in the country. He pointed out that significant improvements in power generation, transmission and distribution are necessary to find a lasting solution for the inadequate power supply in Nigeria
Ezeafuluwke emphasized the heavy cost implications of servicing turbines. Since these services are not available in the country, they require sourcing components abroad, which requires a huge amount of money. He also urged the Nigerian federal government to work on incentives for potential investors in the power sector by identifying gas fields for accelerated development.
The CEO’s comments came a couple of days before the country’s Vice President Yemi Osinbajo said Nigeria would become one of the best power markets in the world.
“We have all the ingredients to create one of the best power markets in the world. I am also confident it will happen within our lifetime,” said Osinbajo.
Source: ESI Africa
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