- Nigeria now has 40 electricity-generating plants with the approval of 11 new GenCos in 2023, and the current transmission wheeling capacity is about 8.1 GW.
- Low energy generation is responsible for frequent blackouts experienced in the country.
The Group Managing Director, Mojec International Limited, Chantelle Abdul, said that Nigeria needs investments in the energy sector to generate 200,000 Megawatts (MW) of electricity. This means that Nigeria needs an additional 195,400 megawatts to meet its electricity needs, as it currently generates an average of 4,600MW for a population of 200 million.
According to her, this move would effectively allocate electricity supply for all Nigerians. Abdul, who stated this at the yearly strategic international conference of the Association of Energy Correspondents of Nigeria (NAEC) in Lagos, said that low energy generation is responsible for frequent blackouts experienced in the country.
Speaking at the conference, Abdul said, “Based on international standards of 1 GW (1000MW) to one million people, the country is expected to generate at least 200GW (200,000MW) to give the population better access to electricity. Nigeria has the capacity to generate 12.5GW (12,000MW) of electricity, but owing to different reasons, the 29 generation companies (GenCos) are only able to generate, transmit and distribute between 3GW to 5GW (3,000MW to 5,000MW).”
The Mojec Boss further noted that before 2023, there were 26 gas-powered plants and three hydro plants, but the approval of 11 new GenCos in 2023 raised the country’s electricity-generating plants to 40. She explained that the current transmission wheeling capacity is about 8.1GW (8,100MW). She hoped the new Electricity Act would pave the way for more investment into the sector, allowing states to generate, transmit and distribute their own electricity.