Power Sector And Other Related News Stories For Wednesday March 29th 2023
As Stakeholders Set Agenda for Nigeria’s Power Sector
Nigeria’s power sector continues to wobble despite efforts to address structural issues that continue to bedevil the sector.
In a bid to achieve its 2023 objectives in the power sector, stakeholders in the Nigerian power sector have set an agenda for the sector.
For many, 2022 was not rosy for the sector especially with the well documented failures of the transmission, generation, and distribution sub-sectors.
According to them, a lack of investment and managerial competence has become a huge drawback to the sector.
Nigeria’s Power Sector Has a Lot of Problems — But They are Surmountable
Femi Otedola, the chairman of Geregu Power, says Nigeria’s electricity sector has several issues, but they are surmountable with leadership and willpower.
Otedola spoke on Tuesday at the closing gong ceremony hosted by the Nigerian Exchange Limited (NGX) in Lagos.
The ceremony commemorated Geregu’s first annual general meeting as a listed company.
“The power sector has a lot of problems but they are surmountable problems. It is a matter of leadership in the country and willpower,” Otedola said.
Landmark Devolution Of Powers (3)
Besides, the most impecunious among them who cannot afford the cost of private power generation, result to social vices as the only surviving strategy, in the apparent absence of any safety valves or social security provided by the government. Adding to this intolerable state of affairs are the millions of able-bodied men that have lost their jobs due to routine downsizing, rightsizing, retrenchment, complete shut-down of companies or relocation of such companies abroad, occasioned by the inclement business environment.
‘Why I Invested in Geregu Power Plant Despite Challenges in Power Sector’
THE chairman, Geregu Power PLC, Femi Otedola, said he invested in Nigeria’s power sector because he believed the sector could be turned around with the entrance of more entrepreneurs and investors, supported by friendly business policies.
Otedola spoke today in Lagos while on an official visit to engage stakeholders at the Nigerian Exchange Group (NGX).
Geregu Power Plc is a registeted power generation company domiciled on the Itobe–Ajaokuta express road, Ajaokuta, Kogi State. Its corporate office is situated at 13, Walter Carrington Crescent, Victoria Island, Lagos, Nigeria.
Infinity Power Launches in Nigeria With Sustainable Solutions Products
With continued challenges in energy sector and simultaneous growth of various industries in Nigeria, the industries have become increasingly dependent on technology for their fundamental operation, necessitating the need for availability of quality power for sustained growth of their businesses.
Hence, to meet up these needs, Infinity Sustainable Power Solutions Limited, (ISPL) was established in 2017 as a part of Infinity Group diversification program into green energy, and over the last five years, ISPL has made significant inroads into standby and motive power solutions, and offering premium quality standby power solution for homes, offices and industries.
Middle East Energy Event Opens Nigeria’s Power Transmission Weaknesses
The leading energy event in the Middle East and Africa (MEA) region, the Middle East Energy, has further advanced Africa’s energy industry, throwing open new opportunities to address the continents energy crises at its recently concluded high impact 48th edition.
The conference highlighted Nigeria’s energy situation during a dedicated panel session on day one, which also explored the country’s untapped unique opportunity to merge economic development and climate action priorities.
Meeting Electricity Needs in Drought-Stricken West
Almost 30% of electricity in the western United States comes from hydroelectric dams. But what happens when the water in the rivers dries up?
The Western Area Power Administration – or WAPA – provides electricity to more than 40 million Americans. It relies heavily on the 57 dams in its service territory for supply.
But over the past 20 years, the drought ravaging the West has been drying up reservoirs. Even the recent wave of snow and rain that dumped on western states like California won’t be enough to fill them back up