By Sebastine Obasi
NIGERIA’S quest to have improved power supply has received a boost as Century Power, a subsidiary of the Obijackson Group, said it is adding 1,500 megawatts, MW, to the nation’s generating capacity.
The power plant situated at Okija, Anambra State, is being built in three phases, with the first phase of 495MW to be completed in 2020.
The Managing Director of the company, Dr. Chukwueloka Umeh, averred that the challenges currently facing the power sector in Nigeria are surmountable and are being addressed by private sector initiatives.
According to him, “there are challenges facing each facet of the power value chain in the country, starting from gas generation all the way to electricity distribution, and in order to fix these, significant investment is needed.
A large part of this investment will come from local and foreign investors, but the government must create favorable conditions in all these sub-sectors to ensure influx of these desperately needed investments. It cannot be business as usual. It is easy to see that we export timber, but import toothpicks simply because we do not have a steady and reliable supply of electricity to allow small and medium scale enterprises, SMEs, manufacture goods locally at competitive prices, thereby creating jobs for the growing unemployed population.