The president of the African Development Bank (AfDB), Mr. Akinwumi Adesina, has described the power generation situation in Nigeria as unacceptable and that it is a big shame for Nigeria to be delivering 4,500 megawatts of electricity to a population of over 190 million people.
Speaking on the sidelines of the Africa Investment Forum ongoing in Sandton, South Africa, the former minister of agriculture said he was ashamed of the countrys power generation capacity when compared with other neighbouring countries.
He said, My own perspective in everything that I do is that my philosophy of development is simple; if I am not ashamed of something I dont change it. But if I am ashamed of something, Id to change it
I dont think its acceptable that Nigeria is still hovering in 4,500 megawatts space. Nigeria ought to be in 40,000 megawatts space. That is what we should be thinking and talking about.
He said over the years the African Development Bank has invested over $200million in driving power generation and transmission in Nigeria.
I think that we as a bank are strongly supportive, weve been investing in Nigeria for quite some time and we are still working with the minister of power right now to lift this country from this shame Mr. Adesina added.
We have invested over $200 million to help to improve the transmission lines and weve supported Nigeria Bulk Electricity Trading company because they had issues in terms of liquidity and we provided $200 million to help them unblock some of those things
“In collaboration with the minister of power, we are also going to be investing in solar, we targeted Jigawa state in that aspect which would give us 1,000 megawatts. And we are also investing in other types of renewable energy, on the small scale.