Massive investment will bridge Nigeria’s 195,400MW energy deficits — Mojec boss

A Summary.

The Group Managing Director, Mojec International Limited, Chantelle Abdul, disclosed this at the annual strategic international conference of the Association of Energy Correspondents of Nigeria (NAEC), in Lagos.

1. Nigeria needs massive investments in the power sector to generate 200,000 megawatts of electricity and meet its energy needs.

2. Currently, Nigeria generates an average of 4,600 megawatts for a population of over 200 million people.

3. The low energy generation is the cause of frequent blackouts in the country.

4. Nigeria has the capacity to generate 12,000 megawatts of electricity, but the generation companies are only able to produce between 3,000 to 5,000 megawatts.

5. The approval of 11 new generation companies has increased the country’s electricity generating plants to 40.

6. The transmission wheeling capacity is currently 8,100 megawatts.

7. The new electricity act is expected to attract more investment into the sector and allow states to generate their own electricity.

8. Egbin has the highest capacity as a gas plant with 1,390 megawatts, while Kainji Jebba Power Plc has the highest capacity as a hydro plant with 1,330 megawatts.

9. It is suggested that solar plants could be introduced to the state governments to generate electricity for their regions