Nigeria’s power generating companies, GENCOs are currently generating less than 5 per cent of electricity needs locally. 44 per cent of the over 170 million population in the country presently have no access to electricity from the national grid, Chief executive officer of Quintas Renewable Energy Solutions Limited Dr. Omotayo Dairo has said.
“There is too much problem foisted on the public in terms of electricity. The GENCOs are not generating enough to be able to go round the country”, Dairo noted while speaking at a Stakeholders’ Round Table on Nigeria’s Energy Mix Strategy held in Lagos recently.
Dairo said the problem was due to the fact that government is the main financier of the economy. “Whereas it should be private sector led,” As a solution to the disturbing trend, he maintained that “what we should try to do is to concentrate on the Nigerian who are not connected to the national electricity grid.” Adding, “Those people could be responsible to 22 per cent growth of our GDP.”
Dairo said “There is a direct connection between electricity and Gross Domestic Product, adding that “Nigerian’s GDP will rise when we connect this people, and money will flow into the economy.”
Reacting to the issues, Managing Director and Chief Executive Officer of Eko Electricity Distribution Company (EKEDC) Mr. Oladele Amoda, told the gathering that the Federal Government was working through its relevant agencies to deal with the challenges facing the electricity sector including liquidity problems.
His words: “The pipeline vandalism in the South-South is a temporary setback which is being dealt with. The Sector will surely overcome this and continue with ensuring provision of incremental and stable power.”