Nigerians require 180,000mw of electricity’ – United Capital Exec

The Deputy Group Chief Executive Officer, United Capital, Bunmi Akinremi, while speaking at The Guardian Power Summit in Lagos has said Nigeria will require 180,000 megawatts (mw) of electricity to meet the needs of household and businesses, which is a far distance from the government’s target of 10,000mw by 2020, The Guardian reports.

He said about 55 per cent of Nigerians have no access to electricity from the grid, while those connected to the grid face extensive power interruptions. Akinremi argued that despite a series of amendments, cash flows from MYTO have proven insufficient to service the entire value chain. He noted that for tariff to be cost reflective in Nigeria, it needs to be 87.0 per cent higher.

Akinremi stressed the need for the national grid to be decentralised as a matter of urgency, to achieve quick fixes to capacity and efficiency issues. To address the over leveraged state of the Discos, he said there is a need for equity injection as the domestic financial system is overexposed to the sector.  He however said that despite current challenges, the Nigerian power sector still holds attractive long-term value.

Linkback: http://naijasky.com/power-and-energy/1737/seo/34353/

NaijaSky



* Share Topic

Share via facebook Share via linkedin Share via twitter

* Similar Topics

clip
MTN MOBILE ELECTRICITY FOR YOU

Started by Isaac Adeniran

3 Replies
468 Views
Last post February 14, 2017, 11:16:33 AM
by Isaac Adeniran
xx
The rights of every electricity consumer

Started by Isaac Adeniran

2 Replies
383 Views
Last post February 19, 2017, 06:36:07 AM
by Isaac Adeniran
xx
MTN and LUMOS partner for mobile electricity

Started by Isaac Adeniran

1 Replies
388 Views
Last post February 18, 2017, 07:44:20 AM
by Isaac Adeniran
xx
Federal Government. of Nigeria Signs $30bn on Electricity

Started by one9ja

0 Replies
683 Views
Last post June 01, 2013, 06:45:09 AM
by one9ja
xx
Electricity power situation in Nigeria- The true story

Started by oneluv

0 Replies
704 Views
Last post June 08, 2013, 10:40:00 AM
by oneluv
xx
Electricity Distribution Company must give you a written notice of disconnection

Started by Isaac Adeniran

2 Replies
21 Views
Last post April 11, 2018, 12:03:12 PM
by Isaac Adeniran
 

Related Topics

  Subject / Started by Replies Last post
2 Replies
556 Views
Last post March 06, 2017, 02:34:08 PM
by Isaac Adeniran
2 Replies
502 Views
Last post March 27, 2017, 05:26:33 AM
by Isaac Adeniran
0 Replies
97 Views
Last post October 10, 2017, 02:10:18 AM
by graciebella

footer2

Download NaijaSky App for Android Phones


Naijasky.com | Copyright 2011-2018. All Rights Reserved.| Privacy Policy | Terms Of Use |

To advertise on NaijaSky call,text or whatsapp Wale 08033181698, 08099874073