Dr. Dere Otubu, Chairman of the Board of Directors at Eko Electricity Distribution Company, emphasized the need for increased investments in Nigeria’s power sector to meet the growing energy demands.
Speaking at a forum organized by the Nigeria-India Business Council in Abuja, Otubu underscored the vital role sustained investments play in ensuring a reliable power infrastructure.
He urged collaborative efforts between Nigeria and India to drive advancements in the energy sector and other areas.
Despite progress in reforming the electricity industry, Otubu stressed the necessity for more capital investment to expand generation, transmission, and distribution capacities.
Recognizing the challenges faced by the power sector, he emphasized the urgency of adopting innovative solutions, stating, “The power sector is the backbone of any thriving economy, and as Nigeria experiences dynamic growth, injecting more resources into power is imperative for desired and sustainable economic development.” Otubu highlighted the market opportunities, mentioning that only about 55% of Nigerians have access to electricity, indicating room for growth.
He appreciated the Nigeria-India Business Council’s trade mission, foreseeing a sustainable trade relationship between the two countries.
The current challenges in Nigeria’s power sector, attributed to low gas supply, have led to nationwide complaints about poor power supply for almost a month.
While the Federal Ministry of Power has not issued an official statement, the Transmission Company of Nigeria stated that efforts are being made to resolve the challenge within the electricity value chain.
