Nigeria needs 60,000 MW of electricity

Nov 08, 2007 01:00 AM

Former Minister of Petroleum Resources, Chief Phillip Asiodu, has said Nigeria requires at least 60,000 MW of electric power to strengthen its economic drive. He also said that there is urgent need for the federal government to invest in the necessary transmission and distribution systems in the country.
Asiodu, who disclosed this in a paper titled, "Sustainable Management of the Environment --- An Agenda for Nigeria in the next two decades,” presented at a conference organized by the Nigerian Mining and Geo Sciences Society, explained that the current power generation capacity is not enough to transform the nation's materials and minerals into valuable goods for the local markets and exports.

He further stated that with the 60,000 MW of electricity, at least 80 % of electricity generation would be thermal-based through the use of natural gas. According to him, the rest may utilize coal or lignite, hydro, and renewable energy resources. The nation's power generation capacity currently hoversbetween 2,500 and 3,000 MW.
The Chief Executive Officer of Egbin thermal station, Simeon Atakulu, announced the closure of the station due to shortage of gas supply from the Nigerian Gas Company (NGC). Two other thermal stations in the country were also shut, leaving the Power Holding Company of Nigeria (PHCN) with no option than to embark on load shedding of electricity.

Nigeria targets 10,000 MW of power generation before the end of the year. The former Minister, who spoke on the management of the nation's human and natural resources since independence, regretted that subsequent governments have not done enough to transform these resources into a goldmine for Nigerians.
"We cannot find any comfort in the manner in which we have conducted our affairs so far since independence regarding the very serious matters of economic and social development despite the very generous natural and human resources with which Nigeria has been blessed. With our large growing population and the worsening global environment, we have a race against time. We must redouble our efforts".

Source Daily Trust
Market Research

The International Affairs Institute (IAI) and OCP Policy Center recently launched a new book: The Future of Natural Gas. Markets and Geopolitics.

Cover_242-width

The book is an in-depth analysis of some of the fastest moving gas markets, attempting to define the trends of a resource that will have a decisive role in shaping the global economy and modelling the geopolitical dynamics in the next decades.

Some of the top scholars in the energy sector have contributed to this volume such as Gonzalo Escribano, Director Energy and Climate Change Programme, Elcano Royal Institute, Madrid, Coby van der Linde, Director Clingendael International Energy Programme, The Hague and Houda Ben Jannet Allal, General Director Observatoire Méditerranéen de l’Energie (OME), Paris.

For only €32.50 you have your own copy of The Future of Natural Gas. Markets and Geopolitics. Click here to order now!


 

Upcoming Conferences
« June 2019 »
June
MoTuWeThFrSaSu
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Register to announce Your Event

View All Events