Businessman and Chairman of Geregu Power Plc, Femi Otedola, urged the incoming government to address the challenges facing Nigeria’s power sector. Speaking on the floor of the Nigerian Exchange Limited during the closing‑gong ceremony for Geregu Power’s first annual general meeting, Otedola identified transmission as the sector’s major problem. He argued that a well‑organized power industry would have a significant positive impact on manufacturing and the broader economy.
“I believe we are now at a stage where the power sector will receive a lot of attention,” Otedola said. “We have new plants, but our problem is transmission. There is a need to focus on this area. The new government can tackle these challenges, and we hope to see positive results. What is needed now is to attract investors with private‑sector expertise to work on these issues.”
Commenting on the company’s listing on the NGX, Otedola noted, “We have come to the Exchange to list for the very first time, becoming the first power company to embark on an aggressive 300 percent expansion drive and the first to release its financial results. I’m happy to be here.” He added that listing on the Exchange is essential for any company seeking to sustain wealth.
Comments are closed for this story.