Kola Adesina, group managing director of Sahara Power Group, says Nigeria’s path to economic growth and global competitiveness depends on securing a stable and reliable electricity supply.
Speaking on the future of the power sector in an interview posted by Dada Olusegun, special adviser to President Bola Tinubu on social media, on X on Wednesday, Adesina said there is “most definitely hope” for Nigeria to achieve steady power.
He cited the need for sustained investments across energy sources from hydro and thermal to solar.
“If we don’t see hope, we won’t be putting money,” he said.
Advertisement
“Nigeria can become more competitive if we have electricity. If we import more than we export, we will remain poor. But with power, we can export more, and things will happen.”
Adesina stressed that Nigeria’s abundant gas reserves, estimated at 209 trillion cubic feet and potentially rising much higher, must be harnessed for power generation, alongside cleaner fuels.
“We have abundant gas, which is currently put at 209 trillion cubic feet, which could rise as high as 600 trillion cubic feet. Nigeria must endeavour to use gas to generate power,” he said.
Advertisement
The GMD pointed to ongoing investments in compressed natural gas (CNG) and liquefied petroleum gas (LPG) facilities, including projects in Calabar, while also highlighting opportunities in electric vehicles and storage batteries.
Adesina added that building infrastructure ahead of population growth is critical, urging a long-term national development plan that integrates manufacturing, local content, and cultural identity.
“For any productive development of Nigeria’s economic growth, there is a need for backward integration. You don’t wait for the population to balloon to an astronomical level before you start to build the infrastructure required for the people,” the GMD said.
He also called for a shift in values, urging Nigerians to embrace local production and self-reliance.
Advertisement
“One of the areas I feel we can liberate Nigeria is by wearing what we sew. There’s nothing in any suit that makes anybody superior. If we showcase Nigeria through what we wear, we are becoming better,” Adesina said.
The GMD added that the power sector remains central to Nigeria’s ambition of becoming one of the world’s leading economies within the next 20 to 30 years.
