The Executive Chairman, Board of Directors, Geregu Power Plc, Mr Femi Otedola, on Friday said that there has not been any improvement in Nigeria’s power sector since he was born.
Otedola disclosed this on Friday during the “Closing Gong ceremony” of the Nigerian Exchange Limited, NGX in Lagos.
He noted that the real problem facing Nigeria’s power sector is the transmission.
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According to him, several generation plants built years ago by the government are still lying idle, stressing that it is unthinkable that Nigeria still struggles with 5,000 megawatts of generation capacity.
He urged stakeholders, including the federal government, to improve the transmission sector to boost the Nation’s power supply.
He further explained that another problem with Nigeria’s power sector is leadership, adding that with the right hands at the helm of affairs decades-old challenges will come to an end.
“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.