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The Economy & You

The Economy and You (Omotola Talabi)

Thu 13th Jul 2017

The demand of electricity is increasing by the day, for economic emancipation and in order to meet the Millennium Development Goals. Thus, Electric power supply is the most important commodity for national development. With electrical energy the people are empowered to work from the domestic level and the cottage industries, through the small-scale and medium industries to employment in the large-scale manufacturing complexes. According to the power sector, Nigeria has 13,400MW of installed power generation capacity of which 8,000 MW is mechanically available. Less than 4,000MW is dispatched on the average over the last two years due to constraints in gas supply, electricity transmission, and, distribution. As a result, the lack of constant electricity supply has discouraged consumers. Many efforts have been made to close this gap including privatization of the power sector, which is believed will bring about efficiency. The Federal Ministry of Power on the other hand said an estimated $3.5 billion budget appropriations will be required as part of the funding plan needed to revive Nigeria’s power sector. This is expected to ensure that a minimum baseline power generation of 4,000MW is guaranteed and distributed daily from 2017, to ensure stability of the grid. Join us on “The Economy and you “this Sunday as our guest, Mr. Omotola Talabi, CEO Elektron Power Limited discusses the role of power in economic development. Date: Sunday 9th July, 2017

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