According to participants, Nigeria must be technologically oriented to monitor the national grid in real time in order to have a successful energy business.
They argued that Nigeria’s problems with power inefficiency would be resolved if it had the appropriate technology, legislation, and enabling environment in place, as well as a decentralized system.
Announcing the subject of this year’s Nigeria Energy Conference, “Affordable, Reliable and Sustainable Energy Through Collaboration,” during a press conference yesterday, According to Ade Yesufu, Exhibition Manager at Informa Markets, Energy-Middle East and Africa, Nigeria needs to produce roughly 20,000MW of electricity per person in order to adequately power the entire nation.
He said: “Nigeria had not started on energy. Other countries with populations fewer than Nigeria’s generate more to service their governments. Let’s start with what we have right now and expand from there. Nigeria requires around 20,000 MW to power the country. We must do it correctly. In the electricity industry, there is no efficient cross-functional communication.
They spoke among themselves. Sixty percent of corporate expenses are for electricity. In Nigeria, almost 80 million people use generators as backup to the national grid. The sooner we handle electricity properly, the better for everyone. Our mission is to assemble every stakeholder for a healthy electricity industry.
Oladayo Williams, Manager, Regulatory, Compliance and Internal Audit, Tetracore, stated that in order for investors to receive returns that would force policy change, there must be honesty in the sector.
In order to find answers and create partnerships to address Nigeria’s energy difficulties, he claimed that the strategic conference will give the public and commercial sectors a forum to interact with worldwide energy leaders and investors.
He stated that the conference, which is slated to take place from September 20 to 22, 2022, at the Landmark Centre in Lagos, would center on subjects including capacity building through the creation of a strategic and regulatory framework to support the expansion of power production in Nigeria.
He added that the conference’s focus on digitalization, data, and technologies to boost productivity, support payments and collections for distribution companies, and how to encourage and draw investments using Nigeria’s gas to power master plan would also be important for accountability and transparency.
The conference, according to him, will bring together key players from the energy sector, the government, ministries, and regulators, as well as gas companies that fuel grid-connected plants and independent power producers, among others, to facilitate the development of renewable energy and off-grid solutions.