Energy expert and the managing director, chief executive officer (MD/CEO) of the Enugu Electricity Distribution Company (EEDC), Mr. Robert Dickerman has said that the country’s ambition to generate 20,000 mega watts of electricity is achievable but pretty difficult.
As an energy expert Dickerman said for the country to realise that ambition, it would spend about $40 billion or N9trillion, saying he would challenge any one who faults his calculation.
Speaking at the opening of the West Africa Power Industry Convention (WAPIC) which opened in Lagos yesterday, Dickerman said from reliable reports, Nigeria has the lowest power generation per capita in the world.
“There is no expansion capacity, limited gas supply, poor transmission and distribution infrastructure.
The NIPP generation auction is falling apart over fuel supply, poor planning and constraints and holding a capacity of about 5,000 mega watts” he said.
Dickerman pointed out that the funds required to meet the generation target is about three times the Foreign Direct Investment (FDI) ever raised in one year by Nigeria.
“It is a challenging amount to raise but Nigeria now represents the Largest potential energy growth market in the world” he said.
He however proffered likely solutions and steps the government should take to achieve its power generation dream.
These he said requires short, medium and long term strategy.
Under the short term plan, Dickerman said government should fix fuel supply, provide infrastructure to the Niger Delta Power Holding Company (NDPHC) plants, and address NESI liquidity problems.