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    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

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    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

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    NjiaPay: South African Fintech Startup Reshaping Payment Solutions for African Businesses

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    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

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    SA’s Peach Payments Expands into Francophone Africa with PayDunya Acquisition

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    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

    LoftyInc Capital Secures $43 Million for First Close of New Pan-African Seed Fund

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    iPhone 16 Sales Surge 20% in China, Signaling a Strong Comeback

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FG set to increase Power Generation by 4000MW via Nuclear Plant Construction

by Eucharia Egwuma
March 3, 2022
in Headlines, National
Reading Time: 2 mins read
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NDPHC, BPE To Sell 5 Power Generating Plants in Nigeria
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Going by the plan of the federal government to increase power generation in the country, there is a bid for the construction of nuclear power plants that would generate 4,000 megawatts of electricity for the country.

Dr Yau Idris, director general, Nigerian Nuclear Regulatory Authority (NNRA), made the disclosure while speaking at the ongoing Nigerian International Energy Summit (NIES) in Abuja.

Idris said: “It is wrong to think that Nigeria can’t manage a nuclear power plant.

“There are mechanisms put in place that ensure any country can build a nuclear power plant.

“Nigeria is trying to deliver 4,000MW of electricity through nuclear power. We are trying to construct four units and we are at the bidding stage.”

He said Nigeria had been trying to diversify its energy sources since 1977, stressing that the additional 4,000MW would increase the country’s generation capacity to about 13,000MW.

Idris said the regulatory agency has signed agreements with Russia, Pakistan, France and South Korea to build the capacity of its staff in manning the nuclear plants.

Also, Mr Ifeoluwa Oyedele, Executive Director, Niger Delta Power Holding Company (NDPHC) Ltd., blamed lack of synergy across the power sector value chain for the dismal performance of the industry. 

Oyedele said the power generation companies could only release about 5,000MW into the national grid due to lack of infrastructure for transmission and distribution to end users.

He said the company was, therefore, looking at supplying power directly to end users through signing off power purchase agreements with industrial clusters across the country.

Oyedele said there was an urgent need to provide access to electricity for more Nigerians in order to accelerate economic growth.

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