Nigeria has only been able to generate 5000 megawatts of electricity since I was born ---Femi Otedola complains

The Executive Chairman of the Board of Directors of Geregu Power Plc, Mr Femi Otedola, expressed his disappointment with the state of Nigeria's power sector despite the huge amount of money invested

by successive governments. Speaking at the "Closing Gong ceremony" and commemoration of the first Annual General Meeting of the company at the Nigerian Exchange Limited (NGX) in Lagos, Otedola identified transmission as the major problem in the sector. He believes that the challenges are surmountable with proper leadership and willpower. Otedola also noted that if the power sector is well-organized, it would be cheaper and have a positive impact on the country's manufacturing sector and the economy as a whole.

 

Otedola commended Aliko Dangote, who built 2000 megawatts of power for his plants, while Nigeria generates only 5000 megawatts. He stressed the need for the government to prioritize the power sector and engage investors to tackle the challenges. Otedola also highlighted Geregu's efforts to expand its capacity to improve performance and maximize shareholders' wealth.

 

Doron Grupper, a director of the power holding company, expressed his satisfaction with Geregu's achievements and identified the challenges facing the company, including gas issues, low gas prices, and pipeline pressure. He called on the government to assist Geregu in increasing its capacity to contribute to Nigeria's power sector and improve access to electricity.