- The Enugu State Government plans to increase its electricity capacity from 70 MW to 700 MW through private sector investment, aiming to significantly boost its economy from $4.4 billion to $30 billion.
- At a recent stakeholder engagement, the state government sought input on its draft electricity regulatory framework. Industry players praised the transparency and proactive approach while emphasising the need for robust funding and long-term investment.
Enugu State Government plans to increase its electricity capacity from 70 MW to 700 MW through private sector investment, aiming to significantly boost its economy from $4.4 billion to $30 billion.
At a recent stakeholder engagement, the state government sought input on its draft electricity regulatory framework. Industry players praised the transparency and proactive approach while emphasising the need for robust funding and long-term investment.
The Enugu State Government is working to significantly increase its electricity capacity from 70 megawatts (MW) to 700 MW through private sector investment, aligning with its goal to grow the state’s economy from $4.4 billion to $30 billion. The government is seeking input from industry stakeholders to finalise its draft electricity regulatory framework, aiming to make the electricity market more viable.
During a stakeholder engagement organised by the Enugu State Electricity Regulatory Commission (EERC) on Tuesday, industry players praised the state’s transparency and proactive approach to developing a market that safeguards various interests. The consultation in the state capital focused on reviewing the draft regulatory instruments.
Governor Peter Mbah, represented by Secretary to the State Government Prof. Chidiebere Onyia, emphasised that improving electricity services is crucial for achieving campaign promises related to infrastructure, security, and economic growth. He assured stakeholders of the EERC’s continued operational independence from political and administrative interference.
Chijioke Okonkwo, Chairman of EERC, expressed concern over the state’s current power deficit and stressed the importance of involving all stakeholders to build investor confidence. The Commission has set targets to increase the state’s electricity consumption to 300 MW by 2026 and 700 MW by 2030. Okonkwo highlighted the need for regulations that support long-term, reliable, and commercially viable investments.
Seun Suleiman, Managing Director of Siemens Energy Nigeria, commended the state’s transparency in regulatory processes and expressed interest in supporting captive power investors with Siemens’ gas turbines. Nkiru Chime, Acting Managing Director of the Infrastructure Bank, emphasised the need for proper project structuring and funding to attract investment and develop the electricity market effectively.
Overall, the Enugu State Government and industry stakeholders are collaboratively working to enhance the state’s electricity infrastructure, ensuring that all regulatory and investment aspects are addressed to foster economic growth and industrialisation.