Anambra requires 1,000 megawatts of electricity to power its growing economy – Soludo

By Vincent Ujumadu Anambra State governor, Professor Chukwuma Soludo has said that the state requires about 1,000 megawatts of electricity to adequately power its growing economy. Delivering the keynote address at the Electricity Market Investment Roundtable organised by the Anambra State Electricity Regulatory Commission (ASERC) in Awka, the governor lamented that Anambra currently receives only about 120 megawatts, describing the huge gap as both a major challenge and an investment opportunity.

“Without electricity, there will be no manufacturing. Without energy, only little can happen. For us, it is very consequential. We are here to do business. Anambra is ready for business,” the governor declared. Soludo urged investors to take advantage of the numerous opportunities in the state’s electricity market, particularly those connected with the state’s proposed Mixed Industrial City and aerotropolis.

The governor threw open the state’s electricity market to investors, declaring that Anambra is ready for business as it seeks to bridge a massive power deficit threatening its industrial and economic growth. To the participants at the summit, Soludo added: “Tell us when, where and how we can get the 1,000 megawatts. Let’s get the plan, a clear roadmap, actionable, verifiable roadmap.

Anambra is a land of opportunities. This is a summit for closing deals. Let’s get it done. “Move beyond discussions and produce a practical, measurable and verifiable roadmap for closing the state’s electricity gap.” The governor reiterated his administration’s determination to create an enabling environment for private-sector participation in the electricity market.

Chairman of Anambra State Electricity Regulatory Commission, ASERC, Professor Frank Okafor, commended the governor for driving innovation and reforms in the state’s energy sector. He acknowledged the substantial electricity deficit in Anambra, explaining that the roundtable was convened to bring stakeholders together to develop practical solutions to the challenge.

“We are here to think together and come up with a solution that will help to overcome the challenge,” Okafor said. Former chairman of the Nigeria Communications Commission, NCC, Engr. Ernest Ndukwe, who chaired the event, noted that Governor Soludo has the capacity to deliver the changes required in the state’s electricity sector. He expressed personal interest in participating in the emerging electricity market, adding, “I want to be a player in the electricity revolution that is coming up in Anambra State.” He advised the state government to consider taking equity stakes in companies investing in electricity infrastructure in Anambra State, describing such participation as a strong vote of confidence that could encourage other investors.

He observed that some of the challenges confronting the sector include appropriate tariff methodology and a strong regulatory framework, which he described as essential to attracting private investment and ensuring the sustainability of electricity reforms.