Quintas Renewable Energy Solutions Limited said that Nigeria’s power generating companies, GENCOs are generating less than 5.0 percent electricity needs of the country.
Chief executive officer, Quintas Renewable Energy Solutions Limited Dr. Omotayo Dairo, who made this known on the sidelines of the Stakeholders’ Round Table on Nigeria’s Energy Mix Strategy held in Lagos, also said that only 44 per cent of the country’s 170 million population have access to electricity from the national grid. According to Dairo, “there is too much problem on the public in terms of electricity.
The GENCOs are not generating enough to be able to go round the country”, adding that, “Nigerians are feeling the harsh economy today because government is the main financier of our economy. Whereas is should be private sector lead, what we should try to do is to concentrate on the 56 percent of Nigerian who are not connected to the national electricity grid. “Those 56 percent are responsible to 22 percent of our GDP. Agriculture is responsible for 22.3 percent, which is 108 billion naira. If Renewable Energy goes into the off grid, 56 percent of the population that are not connected to the national grid will benefit from it. “There is direct connection between electricity and Gross Domestic Product. Nigerian’s GDP will rise when we connect this people, and money will flow into the economy,” he added.
“The bailout money for the GENCOs and DISCOs is just a rip off, they should not have hand in it, it’s a private sector driven, it suppose to be like the GSM, when it first came into the country, then to get a SIM card was about 20 thousand for just one SIM as at 2003, but you can get it for as low as N100.” If they do that, you are generating electricity for N10, and you are selling for N12, you are making N2 profit which is almost 18 percent profit which is good Meanwhile, the Managing Director and Chief Executive Officer, Eko Electricity Distribution Company, EKEDC, Mr. Oladele Amoda, has applauded the Federal Government for setting a timeline to clear up owned electricity debts by the Ministries, Departments and Agencies, MDAs of government. Amoda noted that the DISCOs are confident that the promised made by this government through the Minister of Power, Works and Housing, Mr. Babatunde Fashola will be fulfilled. “Payment of the MDAs debt which is about 74billion naira will assist the DISCOs improves their networks, purchase transformers, partly provide metering and ICT infrastructure, capacity building and customer care activities amongst others. “The President, Vice-President and the Minister of Power, Works and Housing, are very passionate about delivering power to Nigerians.” He also said that The Federal Government of Nigeria is working through its relevant agencies to deal with liquidity problems the Power Sector is experiencing. “The pipeline vandalism in the South-South is a temporary setback which is being dealt with. The Sector will surely overcome this and continue with ensuring provision of incremental and stable power,” he stated. He also noted that this will greatly enhanced operations and improve customer service.