Since I was born, Nigeria has struggled with its 5,000 megawatt generation capability — Femi Otedola

According to Mr. Femi Otedola, Executive Chairman of the Board of Directors at Geregu Power Plc, there has not been any development in Nigeria’s power sector since he was born.

At the “Closing Ceremony ceremony” of the Nigerian Exchange Limited, NGX in Lagos on Friday, Otedola stated this.

He bemoaned the transmission as the main issue plaguing Nigeria’s power sector.

He emphasized that it is unimaginable that Nigeria still suffers with 5,000 megawatts of generation capacity and claimed that some generation plants established by the government years ago are still sitting dormant.

He asked all parties, especially the federal government, to enhance the transmission industry in order to increase the nation’s supply of electricity.

The businessman argued that lack of leadership in Nigeria’s electricity sector is another issue, and that putting the appropriate people in charge will put an end to the problems that have existed for many years.

He is confident, nevertheless, that Nigeria’s electricity sector’s issues can be resolved.

“Aliko Dangote, an individual, has built 2000 megawatts of power for cement, fertilizer plants and a refinery. And the country where I was born has only 5000 megawatts.

“So it’s appalling and disheartening that all the successive governments have failed in this regard, but I believe we are now at the stage where the power sector will get much attention and priority.

“We have new plants still sitting idle that the government built years ago, and the real problem is transmission; there is a need to look in this direction,” he said.