Kunle Kalejaye
Leeds, England — Genesis Energy Group has reaffirmed its commitment to advancing Nigeria’s energy transformation through increased private-sector investment and strategic partnerships that deliver clean, reliable, and sustainable power across the country.
The announcement was made at the 2025 Nigeria Energy Leadership Summit, held recently in Lagos.
In a keynote address themed “Reimagining Investment in the Nigerian Electricity Supply Industry,” Akinwole Omoboriowo II, Chairman and Chief Executive Officer of Genesis Energy Group, underscored the critical role of policy reforms, market efficiency, and collaboration in driving Nigeria’s power-sector transformation.
He said: “For decades, Nigeria’s power sector has been characterised by immense potential but persistent challenges. With the introduction of the Electricity Act 2023, we now have a clear and enduring framework that defines how the sector will grow and operate. For the first time, sub-national governments can establish their own electricity markets, tailoring solutions to their unique economic needs.
The Act also gives legal recognition to off-grid and mini-grid projects, transforming them from pilot schemes into viable, bankable investment opportunities. This clarity is restoring investor confidence and creating space for innovation and competition across the value chain. These are the foundations of NESI 2.0 — a new, decentralised energy system built on policy certainty, private capital, and shared ambition.”
Also speaking, Mr. Omoboriowo highlighted the tangible results of these reforms through Genesis Energy’s investments and partnerships across Nigeria, noting that policy clarity has already begun to unlock large-scale private-sector collaboration in the energy space.
He added: “At Genesis Energy, we are already translating these reforms into tangible results through partnerships that demonstrate what is possible when policy meets execution. Earlier this year, we signed a $500 million Memorandum of Understanding with the Katsina State Government to deploy large-scale solar photovoltaic and battery storage systems across the state. The first phase of this project powers the Katsina State General Hospital entirely through solar and battery systems, while the State Government Complex now operates on a hybridised model that delivers uninterrupted electricity.
This initiative has already generated measurable outcomes — including an annual cost saving of over ₦3 billion and significant improvements in service reliability. Beyond cost savings, it shows how decentralised, state-led energy projects can strengthen local economies, create jobs, and enhance social infrastructure. These are not isolated interventions but signals of a maturing market — one where private capital and public policy are working in true alignment to power Nigeria’s growth.”
In his remarks, Minister of Power, Chief Adebayo Adelabu, further highlighted the role of public-private sector partnership in advancing the energy sector. He said: “The responsibility of providing stable electricity can never be left in the hands of the federal government alone. Given the level of investment required in this sector, we need private infusion, both local and foreign. We must engage local and foreign investors at the state level to establish generation, transmission, distribution, and off-grid solutions. This is especially critical for rural, unserved, and semi-urban communities. States now have the autonomy to develop their own power projects, including small hydro, solar, wind, or other generation options, and with partnerships with companies such as Genesis Energy, we can mobilize the expertise and technology, to make these projects successful. By doing this, we can guarantee energy security and unlock opportunities for local economic growth.”
Organised by Informa Markets under the patronage of the Federal Ministry of Power, the Nigeria Energy Leadership Summit serves as a premier platform for high-level dialogue on investment, innovation, and sustainability within West Africa’s power sector. The summit convenes government representatives, regulators, financiers, development partners, and private-sector leaders to explore practical strategies for expanding electricity access, accelerating clean-energy integration, and achieving a secure and diversified energy mix for Nigeria by 2030.
