‘Nigeria, others need $250b investment to resolve power deficit’ – Report

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, Nigerian Electricity Regulatory Commission (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.”

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 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.

Source: The Guardian

 

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