‘N1.6tr needed to dou­ble power gen­er­a­tion’

Daily Trust - - NEWS -

The Min­is­ter of Power, Prof. Chinedu Nebo, said close to 10 bil­lion dol­lars (about N1.6 tril­lion) in­vest­ment was needed to dou­ble the power gen­er­a­tion ca­pac­ity of the coun­try.

Nebo dis­closed this when he made a pre­sen­ta­tion to the Na­tional Con­fer­ence Com­mit­tee on En­ergy in Abuja yes­ter­day.

He also noted that Nigeria needed over 300 bil­lion dol­lars in­vest­ment in the power sec­tor for it to meet the power gen­er­a­tion of South Africa.

The min­is­ter said that South Africa which was a lit­tle more than one-quar­ter of the pop­u­la­tion of Nigeria was gen­er­at­ing 10 times power than Nigeria.

“The im­pli­ca­tion is that South Africa is gen­er­at­ing per capita, 40 times what Nigeria is gen­er­at­ing. If Nigeria were to be at par with South Africa we should be gen­er­at­ing 160,000 megawatts, no doubt about that,” Nebo said.

“We must note that if that were to hap­pen in Nigeria, the min­i­mum that govern­ment will need to put in place would be over US$300 bil­lion and no govern­ment on earth can do that.

“Even to dou­ble our ca­pac­ity, in gen­er­a­tion alone, the min­i­mum in­vest­ment needed to dou­ble our ca­pac­ity as at to­day is close to $10 bil­lion.

“On trans­mis­sion in­fra­struc­ture and the dis­tri­bu­tion in­fra­struc­ture, Nigeria has to de­vote about 100 per cent of its an­nual budget to power alone and yet not meet the tar­get.”

He said that the cur­rent ad­min­is­tra­tion un­der its trans­for­ma­tion agenda had em­barked on sev­eral ef­forts, in­clud­ing the pri­vati­sa­tion of PHCN, to trans­form the stan­dards of liv­ing of Nige­ri­ans.

He said that was the rea­son govern­ment in­vited pri­vate in­vestors to in­vest in the sec­tor.

Nebo said that the in­stalled ca­pac­ity as at now was 9, 920 megawatts, avail­able ca­pac­ity was 6,000MW while the aver­age en­ergy de­liv­ered was 80,500 MWH.

“For trans­mis­sion ca­pac­ity, we have nom­i­nal ca­pac­ity of 6,870MW with a real ca­pac­ity of closer to 4,500 MW, while the tech­ni­cal losses we ex­pe­ri­ence is in the rage of 12 per cent. For dis­tri­bu­tion ca­pac­ity, we have a nom­i­nal dis­tri­bu­tion ca­pac­ity of 7, 325 MW,” Nebo said.

The min­is­ter said hope­fully by the end of year 2014 Nigeria would have sig­nif­i­cant im­prove­ment in the power sec­tor. (NAN)

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