The Chairman, Board of Directors of Eko Electricity Distribution Company (EKEDC), Dr. Dere Otubu has emphasised the need for increased investment in the power sector to meet the growing energy demands of Nigeria.
Speaking at the Nigeria-India Business Council’s (NIBC) India Trade Mission to Nigeria, in Abuja, Otubu said Nigeria has enormous potential in the power sector that can be unlocked with sufficient capital injection from investors.
Otubu, who is the Vice President of the NIBC, highlighted the pivotal role that sustained investments play in ensuring a robust and reliable power infrastructure.
He underscored the importance of collaborative efforts between Nigeria and India in driving advancements in the energy sector and in other sectors.
He stated that although progress has been made in reforming Nigeria’s electricity industry, more capital investment is required to expand generation, transmission and distribution capacities.
Otubu acknowledged the ongoing challenges faced by the power sector, stressing the urgency of adopting innovative solutions.
He stated: “The power sector is the backbone of any thriving economy, and as we witness the dynamic growth in Nigeria, it is imperative to inject more resources into power to bring about the desired growth. This will not only address the current energy deficit, but also lay the foundation for sustainable economic development.”
Highlighting the opportunities, he said only about 55 per cent of Nigerians have access to electricity, indicating room for growth as more consumers get connected to the grid. He appreciated the NIBC’s trade mission’s visit as it will foster a sustainable trade relationship between the two nations.
