Nigeria, others need $250 billion investment to resolve power deficit’ – Guardian

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To resolve the power deficit situation in Africa and reach the United Nations’ (UN) target of Universal Access by 2030, the continent will need to add around 250GW capacity, which will require about 7GW yearly from now to 2030. This, the Executive Chairman NERC, Prof. James Momoh said would require an investment of about $250 billion, which according to him cannot be mobilised by national governments alone, but Public-Private Partnership to achieve this objective. Momoh stated this in his paper titled: “The Nigerian Power Supply Question: Challenges and Solution”, made available to The Guardian.

The NERC Chairman pointed that countries of Sub-Saharan Africa, due to their inability to provide the energy needs of their people, cannot adequately provide health services, schools, clean water, food security and industries to their people. This, Momoh said prompted the Secretary General of the UN to establish the advisory group on Energy and Climate Change, with the key recommendation of the document titled: “Energy for a Sustainable Future”, suggesting that countries like Nigeria should strive to provide universal access to electricity to all its citizens by 2030.

The report further recommends that for countries to attain the above targets, they must come up with national strategies and a long-term policy of a roadmap that will attract investments, define the required human capital resources as well as institutional and regulatory framework that will reduce excessive red-tape in implementing a proactive roadmap that will transform the power sector to achieve the targets.

 

 

Small businesses embrace off-grid options amid electricity woes – punch

A growing number of micro, small and medium enterprises across Nigeria are turning away from the public power supply, in the latest sign that the nation’s electricity crisis has not abated. Without electricity, Mr Yusuf Funmilayo’s business is as good as dead. Over the past seven years of plying his trade in Lagos as a barber at Paul Odulaja Crescent, Ifako, Gbagada, he has struggled to keep his business alive — initially by relying mostly on petrol-powered generators.

Over the years, the lack of reliable power from the grid has continued to limit small businesses’ hours of operation and productivity, forcing them to rely on expensive, polluting alternative sources. “I had two small generators, and spent at least N3,000 on petrol every week,” Funmilayo told our correspondent in his shop on December 14. But about three years ago, he was forced to look for an alternative to generators amid frustration over the scarcity of petrol in the country at that time and poor power supply from the national grid.

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