Tony Elumelu, Group Chairman, United Bank for Africa Plc, while at the Ughelli Power Plant, owned by Transcorp, a company within Elumelu’s portfolio, has said that Nigeria’s single most critical agenda should be to fix power supply in the country and believes the Ughelli plant can produce more than a quarter of Nigeria’s power, MYFP reports.
Elumelu while speaking to Zain Asher of CNN, said; “I see a future where everyone will have improved access to electricity in Africa. Because improved access to electricity will help us to develop Africa, help us to transform the continent… It starts from the macro level and gets to the micro level… When we took over this plant the output was 150 megawatts, this was 2013, but today we have capacity to generate about 750 megawatts.”
He added: “The capacity we have, this plant has about a thousand megawatts. By end of this year, we should be at full capacity of 1,000. If we do 1,000 for context, Nigeria is currently generating 3,000 or something, less than 4,000. Let’s say 4,000. If it’s 4,000 and we’re doing 1,000, that already is 25%.” Asked about the global trend towards green energy, Elumelu said: “Renewable energy is very good, but in this part of the world, where we’re coming from, we need huge, massive amounts of energy.”