Electricity: Edo targets $10bn investment
…Bags Best State Government at the Nigeria Power Sector Awards
The Edo State has projected to attract an additional $10 billion in domestic and foreign investment as a result of improved power supply in the state.
The state has already attracted $2 billion in investment, mostly in the agricultural sector, expected to create many multiplier effects, including enhancing food production, supplying raw materials to industries, and creating additional employment opportunities.
But reacting to the latest nomination of the State as the Best State Government at the Nigeria Power Sector Awards, the Senior Special Assistant, SSA, to the Governor on Electricity, Mr. Osasumwen Arigbe-Osula, said the Mr. Godwin Obaseki-led administration has taken bold steps to boost electricity in the state.
He said, “On 4th April 2017, Edo State Government (EDSG) executed a Power Purchase Agreement (PPA) with the Ossiomo Power and Infrastructure Company for at least 5MW of power. On 9th March 2018, EDSG applied to the Nigerian Electricity Regulatory Commission (NERC) for an Eligible Customer License.
“On 4th November 2018, NERC approved the EDSG application and declared 7 EDSG locations as Eligible Customers. The Ministry of Energy and Electricity was created in 2019 to execute the ‘Electrify Edo’ project.
“Testing and certification of the Injection Substation at the Secretariat Complex, Sapele Road, and the 11KV network connecting EDSG offices by the Nigerian Electricity Management Services Agency (NEMSA) were completed in July 2020.
“The first power to the Injection Substation at the Secretariat Complex, Sapele Road was achieved on 8th October 2020. Twenty-four hours of uninterrupted power supply is being provided to crucial EDSG facilities and utilities i.e., Government Administrative Buildings, Health Care Facilities, Water Works, Schools, Courthouses, etc as well as Ologbo, the host community of the Ossiomo power plant.
“A 200km Street-lighting program covering the three Senatorial districts of Edo State commenced in April 2021. As of October 2022, 50km (40km in Benin and 10km in Auchi has been completed). An Edo State Electric Power Sector Reform Bill was developed and sent to the Edo State House of Assembly in March 2022.
“The Edo State Electric Power Sector Reform Bill was passed in September 2022 and it creates two statutory bodies — a Regulatory Commission to create a framework for a State Electricity Market and an Electrification Agency — to implement the State Electrification Fund in unserved and underserved areas.”
He maintained that these and others would culminate in Edo state emerging as the first State in Nigeria to experience 24 hours power supply, adding.
“The initiatives constitute the needed catalyst for rapid industrialisation and improved security. They have the capacity to attract $1 billion in Foreign Direct Investment, create 200,000 Direct and Indirect Jobs, and open new revenue sources, especially following the dwindling of allocations from the Federation Account Allocation Committee, FAAC.”
The Edo State Governor had earlier said, “We are going to use the advantage that we have as a state, with access to reasonably cost fuel and encourage investment in generation, transmission, and distribution within the state. As a state, this is one promise that we made to our people, when we came to office in 2016, that we will continue to provide an enabling environment for businesses to thrive.”
However, the Nigeria Power Sector Awards, sponsored by New Hampshire Capital Ltd, an energy investment and advisory firm with a focus on the power sector and supported by MOJEC International Limited, noted that it aims at recognising and celebrating a few individuals for their immense contributions and achievements, including a Posthumous Award to the late Engr. Joseph Oyeyani Makoju, former Chief Executive Officer, of the defunct National Electric Power Authority, NEPA, and Special Adviser on Power to three presidents; Leadership and Excellence Award in the Power Sector to Engr. Ahmad Zakari, the Special Adviser to the President on Infrastructure, and Trailblazer Award in the Power Sector will be presented to the Min of Power, Minister of Power, Mr. Abubakar Aliyu.
Others included a Lifetime Achievement Awards to former President Olusegun Obasanjo, Mr. Godwin Emefiele, Governor, Central Bank of Nigeria, Prof. Barth Nnaji, former Minister of Power and Founder, Geometric Power Limited/Aba Power IPP, and Mr., Kola Adesina, Executive Director, Sahara Energy Group.
The nominees for Thermal Power Generation Company of the Year, include, NAOC Okpai IPP, Azura Power West Africa, and Transcorp Power (Ughelli Power Station) while the Hydroelectric Power Generation Company of the Year, has North South Power Company Limited (Kainji), Mainstream Energy Limited (Jebba), North-South Power Limited (Shiroro) and MABON Dadin-Kowa Hydro Dam as nominees.
The Electricity Distribution Company of the Year category, has Ikeja Electric, Port Harcourt Electricity Distribution Company, Eko Electricity Distribution Company, and Abuja Electricity Distribution Company, as nominees; while the Most Gender Diverse Utility Company category, has Kaduna Electric, Eko Electricity Distribution Company, Port Harcourt Electricity Distribution Company, Niger Delta Power Holding Company, and Ikeja Electric as nominees.
The Most Innovative FINTECH Company category has PayAfrik World Connect Limited, BuyPower, Flutterwave, Crown Interactive Limited, and ITEX Integrated Services Ltd, as nominees, while the Metering Company of the Year category has MOJEC International Limited, Protogy Global Services Ltd, Switch Electric Ltd, Sabrud Consortium Nigeria Limited and Conlog Meter Solutions Nigeria as nominees.
The Transaction of the year (Renewable Energy/Off-grid) category has GVE Projects Ltd – Wuse Market Project, Crossboundary/Engie, Nayo Tropical Technology Ltd/ARM-Harith, Rural Electrification Agency/Nigeria Electrification Project (NEP) and Olaniwun Ajayi/Chapel Hill NIDF as nominees, while the Transaction of the year (Generation) category, has Olaniwun Ajayi LP/Transcorp Plc – 726MW Afam GenCo Acquisition, Geregu Power Plc Share Listing on the NGX and Geometric Aba Power IPP Financing as nominees.
The Transaction/Project of the year (Transmission) category has Niger Delta Power Holding Company Ltd – Lafia Transmission Sub-station Project, Olaniwun Ajayi LP/FGN Power Company Ltd – Implementation of the Presidential Power Initiative Phase 1, Transmission Company of Nigeria – Abuja Ring Project and Eko DisCo/NESI-SS Ltd – transmission interface upgrade project as nominees while the Transaction of the year (Distribution) category, has Olaniwun Ajayi LP/KONEXA ECOF, Geometric Aba Power Distribution Ltd and Ikeja Electric – Premium Power Project as nominees.
The Mini-Grid Project Developer of the Year category has Nayo Tropical Technology, GVE Projects Ltd, ENGIE Energy Access, Havenhill Synergy, and Wedotebary Nigeria Limited while the C & I Developer of the Year category has Daystar Power Energy Solutions, CrossBoundary Energy, Auxano Solar and Resource Energy as nominees while the Public Sector Organization of the Year category has Nigeria Bulk Electricity Trading Plc, Rural Electrification Agency (REA), Transmission Company of Nigeria, Bureau of Public Enterprises and Nigerian Electricity Management Services Agency as nominees.
The Development Finance Institution of the Year category has the Bank of Industry, InfraCredit, Development Bank of Nigeria, and Africa Finance Corporation as nominees while the Best State Government in the Power Sector category has the Oyo State Government, Kaduna State Government, Lagos State Government, Akwa Ibom State Government, and Edo State Government as nominees.
Also, the Gas Supply Company of the Year category has Axxela Limited, Seplat Plc, Shell Nigeria Gas, Accugas/Savannah Energy, and Nigerian Gas Marketing Company as nominees while the Independent Power Producer (Captive) category has the Axxela Limited, Genesis Energy Limited, Viathan Engineering Ltd and Ossiomo IPP Edo State as nominees.
Finally, the Bank/Financial Institution of the Year category has Sterling Bank, First Bank Plc, Fidelity Bank Plc, Providus Bank, and United Bank for Africa as nominees while the Most Impactful International Development Agency category has USAID/Power Africa, German Agency for International Cooperation (GIZ), UK Nigeria Infrastructure Advisory Facility (UKNAIF) and SEforAll as nominees.
The organisers disclosed that the inaugural edition of the Nigeria Power Sector Awards and Cocktail event will take place on Wednesday, November 23, 2022, at the Abuja International Conference Centre (AICC) by 4.30 p.m., maintained that despite challenges, the power sector has achieved some level of growth and improvements across the entire value chain worth celebration in order to motivate the award winners and others to do more.
It stated, “The Awards is a two-part event and will commence with the presentation of a keynote address by H.E Malam Nasir El-Rufai, the Executive Governor of Kaduna State. The keynote address will focus on the topic ‘The Future of the Nigerian Power Sector: Delivering a Reliable and Stable Power Sector for All Nigerians.’ The keynote address will dwell on the evolution of the Nigerian Electricity Supply Industry (NESI) from the electric power reforms, privatisation of the power sector, and the post-privatization reforms needed for the development of a NESI that is able to deliver reliable and stable electricity to all Nigerians, using Kaduna State as an example.
“The keynote address will be followed by a fireside discussion with eminent panelists to share their thoughts on the keynote topic. The fireside discussion will be anchored by Mr. Wole Famurewa, of CNBC West Africa. Eminent panelists at the fireside discussion include Mr. Kola Adesina, Group Managing Director, Sahara Power Group, Prof. Barth Nnaji, former Minister of Power and Founder, Geometric Power Limited/Aba Power IPP and Dr. Uwa Igiehon, former Managing Director, Royal Bank of Canada and Founder, Ossiomo IPP, Edo State.
“The fireside conversation will build on the keynote address from a private sector/Investor’s perspective. Panelists will provide their thoughts on the way forward for the development of a NESI that is able to deliver reliable and stable electricity to all Nigerians, using their respective business models such as the Aba Power project, Sahara Power Group’s utility operations, and Ossiomo IPP project in Edo State.”
