Nigeria’s Minister of Power, Works and Housing, Babatunde Fashola, says Nigeria’s power generating companies (GenCos) are now able to produce 7,000MW.
Mr. Fashola made this known on Tuesday at the 1st Stakeholders Workshop on Taking 2000MW Unutilized Power to Eligible Customers, which was held with the Manufacturers Association of Nigeria (MAN).
He added that the Transmission Company of Nigeria (TCN), is able to transport all of this power just as it is expanding its capacity daily, adding that the distribution companies have also increased their load taking capacity to 5,000MW.
The meeting was meant to advance the processes on how additional 2000MW could be delivered to industries and homes, as well as the smooth implementation of the eligible customers regulation released in 2017 by the Nigerian Electricity Regulatory Commission.
The regulation gives eligible customers the opportunity to buy stranded power directly from GenCos, just like the Distribution Companies (DisCos) and the Nigerian Bulk Electricity Trading Plc.
“What we gather to do today is to open the window for sales to the Eligible Customers. There can be no better time to explore this option than when there is the inventory of unsold power with the clear promise of more to come,” the Minister said.
He explained that the market must be open to all willing buyers, adding that access to power for manufacturing and production is a big bridge towards the diversification of the economy.
The president of the Association, Frank Jacobs, stated that its members were ready and willing to take up the 2000 MW stranded generated power to carry out their manufacturing businesses which will in turn, to boost the nation’s economy.