“Nigeria’s power system is suffering from an imbalance between power generation and demand. Despite more than 8,000 MW of operational power generation capacity in the country, only an average of 4,500 MW reliably reaches consumers.
The panel discussed how Nigeria could improve investment into the sector through increased beneficiation opportunities, encouraging local transformation and boosting local market and job opportunities through local beneficiation and developing the Made in Nigeria brand.
However, other members of the panel, including the Chief Executive Officer, ZJK Energy, Mr. Rumundaka Wonodi; Principal Consultant, Emtech Energy Services, Ifey Ekeonu; and Head, (PMU) Nigeria Electrification Project (NEP), Mr. Kenny Anuwe, agreed on the need to reduce the political influence in the power sector.
Buffett’s US$10-billion bet on natural gas infrastructure shows that the billionaire investor believes that natural gas hasn’t run its course, regardless of what environmentalists and climate-conscious investors think.
The funding round was led by Energy Access Ventures (EAV), an early-stage fund investing in decentralised energy companies across Sub-Saharan Africa, and the UK’s CDC Group, and will be used to help SolarX develop and operate projects in Mali, Burkina Faso and Ivory Coast.
It was gathered in Abuja on Monday that while the Federal Government had made payments for survey works and sensitisation of the affected communities, it had yet to make progress on the project due to the non-payment of compensation.
Alhaji Azeez, on behalf of his company, received the Lifetime Achievement Award for his long-standing partnership with the energy management firm, Schneider Electric.
“We have a situation now of a refinery that has not functioned for three years, yet it’s paying salaries. Every staff is being paid. We have carried on paying salaries. Nobody can sack anybody.
Covid-19 has been a big eye-opener regarding FinTech”. She explained that, for example, documents for account opening have been sent via WhatsApp. She explained that is needed is for FinTech start-ups to tap into the potential and understand the impact of the measures. She noted that “these measures already exist, but it is the way that it has been facilitated that has to be changed.
He noted that the impact of the coronavirus pandemic on the power sector was severe, but said the contractors must return to work since the lockdown was being eased.
