“Nobody in the world can provide 24/7 electricity everywhere in Nigeria”, adding that 160,000 megawatts would be needed to do that. The current capacity is 4,500 megawatts.
“The cost of providing electricity per megawatt on average is $2billion. To get to where South Africa is, you will need about $3.2trillion (about N672trillion). Where will you find that kind of money?” he asked.In addition to the huge amount of money involved, Prof. Nebo said power projects also take time to come to fruition, stressing that it takes between four and six years to deliver the power projects.
This is what the Minister of Power Chinedu Nebo said in London Over the weekend. He further said,
“You don’t buy these things off the shelves. It takes time to design, study, procure, manufacture, install and commission”, he said, but explained that the government had done so much on generation capacity, transmission and distribution infrastructure, which are key necessities in power supply.
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