Vice President, Yemi Osibanjo has predicted an end to the challenges in generation and distribution of electricity within the next 10 years.
He made the projection at the inauguration ceremony of the 240 megawatts Afam Power Plant in Rivers State.
The Afam Fast Power project was conceived in 2016 to improve power generation capacity in Nigeria through fast and flexible technology to meet the rapidly increasing demand for electricity in the country.
This brand new power plant is expected to deliver an additional 240mw of electricity for the country.
When combined with the existing Afam Power plc, the expectation is that 1000mw would be added to the national grid in the next few years.
With this development, the Federal Government believes that shortfall in power supply would become a thing of the past soon.
The Vice President noted that insufficient private sector participation in the past had hampered growth in the power sector.
But he acknowledges that the story is beginning to change due to investments by energy company, Transcorp Power Limited, operators of Afam fast 3 Power Plant and Afam Power PLC.
Transcorp Power says its investment in the sector is driven by the desire for economic growth that would impact the lives of all Nigerians.
Key players in the power sector are excited about what the future holds for the power sector but they’re advocating an improvement in the utilization and supply of gas in order to sustain the progress that is already being made.
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