22 September 2015, Abuja – It will be considered unpatriotic on my part if I do not comment on the availability of a realistic Federal Government policy to bring sufficient and uninterrupted electric power supply to Nigeria. My employers, Africa Mutual Funds Corporation, had been studying and making presentations to the Federal Ministry of Power since 2010 on the feasibility of realising 17,100 megawatts, MW, power to Nigeria in 2014, and thereby increase this to about 50,000MW.
One of our principals who studied our proposal to generate 17,100MW told us that we should be looking further to 50,000 MW of which we thought it was achievable after we might have reached our portfolio of 17,100MW.
We have also made it known to the authorities in 2012 that affordable electric power could be harnessed from existing hydropower facilities in Nigeria without waiting seven years to develop Mambilla hydropower project. We also showed that gas-based electricity generation is not affordable to Nigerians coupled with the proclivity of such a gas-based model to vandalism, which will not only drive up the cost of power generation but also affect the availability of electricity on the national grid.
We have showed, and we still have the template that would produce over 70% of our national power requirement from hydropower sources with the balance coming from the operating gas power plants that are located close to the source of gas in the Nigeria’s delta region. Our plan also call for the reactivation of the Oji River coal fields to generate power with coal, which was our main source of electric power in Nigeria before the construction of Kainji Dam.