The Chairman of the Board of Directors of the Eko Electricity Distribution Company (EKEDC), Dr. Dere Otubu, recently called for substantially increased investments in Nigeria’s power sector infrastructure. He indicated this was necessary to meet the country’s rapidly growing electricity demands driven by economic expansion and population growth.
Speaking at a Nigeria-India Business Council trade mission forum held in Abuja, Otubu stressed the critical role sustained capital investments play in building reliable power generation capacities, transmission infrastructure, and distribution systems.
With only 55% of Nigerians currently having access to electricity, he sees tremendous room for growth as more consumers get connected to the grid. Otubu also noted India’s advanced capabilities in power sector technologies and expertise and advocated stronger collaborative partnerships between the countries to modernize Nigeria’s electricity industry.
The forum, themed “Expanding Trade and Investment Opportunities Between Nigeria and India”, was also attended by the Minister of Trade and Investment Doris Uzoka-Anite, Minister of Marine and Blue Economy Adegboyega Oyetola, and Council President Sir Emeka Offor among other dignitaries.
While acknowledging progress made in reforming Nigeria’s power sector, Otubu reiterated that significantly more financing was still needed from investors seeking long-term returns. He particularly called for expansions in generation capacities, transmission infrastructure upgrades, and distribution network enhancements to deliver stable electricity nationwide.
Otubu also recognized the ongoing challenges of inadequate gas supplies currently plaguing the industry but urged stakeholders to quickly adopt innovative solutions to resolve the issues. Reliable electricity he noted, was the backbone of any thriving economy.
The visit by the India trade mission delegation headed by Otubu in his capacity as Council Vice President, intended to foster sustainable trade relationships between the two countries. The Nigeria-India Business Council aims to facilitate vital business partnerships between Nigerian and Indian companies.