It’s disheartening that Nigeria has only 5000mw of generation capacity since I was born – Femi Otedola

Nigerian Billionaire and Philantropist, Femi Otedola has lamented over the poor electricity generation capacity of the country.

Speaking on Friday at the “Closing Gong ceremony” of the Nigerian Exchange Limited, NGX in Lagos, he lamented that several generation plants built years ago by the government are still lying idle, stressing that it is unthinkable that Nigeria still struggles with 5,000 megawatts of generation capacity.

“Aliko Dangote, an individual, has built 2000 megawatts of power for cement, fertilizer plants and a refinery. And the country where I was born has only 5000 megawatts.

“So it’s appalling and disheartening that all the successive governments have failed in this regard, but I believe we are now at the stage where the power sector will get much attention and priority.

“We have new plants still sitting idle that the government built years ago, and the real problem is transmission; there is a need to look in this direction,” he said