Nigeria Could Become One Of The Best Power Markets In The World
Channel: Prof. Yemi Osinbajo
Date: 2023-05-11

Commissioning Of Transcorp's  240 MW, AFAM 3 Fast Power Project In Port Harcourt, Rivers State


By sustaining the significant strides made by the Buhari administration in the electricity sector, with increased investments and improvements in the value chain, Nigeria could become one of the best power markets in the world, according to Vice President Yemi Osinbajo, SAN. 
 
 
Prof. Osinbajo stated this in his remarks at the official commissioning of the 240MW, AFAM 3 Fast Power Project in Port Harcourt, Rivers State, where he represented the President. 
 
 
According to the VP, "we have all the ingredients to create one of the best power markets in the world. I am also confident it will happen within our lifetimes. 
 
 
"The challenge before us now is for the industry to leverage the improved commercial environment that has been created to sustainably supply electricity and improve service to all citizens. This administration has made significant strides in this direction." 
 
 
Referencing the efforts of the administration in the sector, the VP said "the complete story is that in the past few years, we have seen more new money coming into the power value chain. 
 
 
"These transactions include, Quest PLC which became a core investor in Yola Disco in 2020 with a transaction worth N19 billion. Last month the National Council on Privatization, NCP, approved the 30-year concession on Zungeru Hydro Power Plant at $70 million a year. And overall, the story of the Nigerian electricity supply industry is also getting better."
 



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Oluyemi Oluleke Osinbajo is a Nigerian Lawyer and Politician who is the current Vice President of Nigeria, in office since 29 May 2015.

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