Why funding energy makes business sense
We must power Africa's next phase of development by targeting and prioritizing the growth of our manufacturing, industries and services and universal access to POWER is the fulcrum that will make this happen. In this video interview with CNN'S Zain Asher, we go on a tour of the Transcorp Ughelli power plant – currently Nigeria’s largest thermal energy plant with additional capacity soon to generate 25% of Nigeria’s energy needs.
We have chosen to invest significantly in power in order to BUILD a future where all Africans enjoy reliable, accessible and affordable access to electricity. Improved access to electricity will enable our children study at night without need for harmful lanterns and allow our entrepreneurs run their businesses at affordable operating costs.
Let me tell you about the power of the private sector – the core of my personal investment philosophy of Africapitalism. When we took over the power plant in Nov 1, 2013, the output was 150MW. Today, we have the capacity to generate nearly 1000MW in a country where less than half of the population has access to electricity. It is because of our commitment to creating both economic wealth and social prosperity through hard work, excellence, innovation and resilience, that this rapid turnaround has been achieved.
I want US to transform Africa via Africapitalism and this is the reason why at Heirs Holdings we have invested and continue to invest in the Niger Delta. Though currently undergoing tension, we envision a bright future for this region. I am focused on getting it right at home because power is the single most critical issue on the local development agenda. If we fix power in Nigeria, then everything else will follow.
See the CNN interview here.
Photo: Vendors sell meat at the Oshodi night market in Lagos, late on June 6, 2015, lighting their stall with a fuel lamp in absence of electricity. PIUS UTOMI EKPEI/AFP/Getty Images
Consultant en Energie/ Electrique, Electromécanique, Industrie, Pétrole, Gaz, Renouvelable
8 年Excéllence Tony O. Elumelu, L'électricité est la base de développement d'un pays. Vous faites notre fierté, et nous vous soutenons dans vos démarches pour sortir l'Afrique de la pauvreté. Merci.
Cybersecurity Specialist
8 年It all begins with assembling the right machine components, then there is a little spark of bright light and that light drives every other things including Machines of Industry, Research and Development. Light Africa to Grow Africa. We can't grow as a Nation until we are able to boast of steady Power Supply. It's a nice Business idea Sir. Power Generation is a Gold Mine waiting for the taking.
Property Manager at International Committee of the Red Cross - ICRC
8 年The energy section like the telecoms sector is a very huge investment in the right direction with so much benefits economically. From inception its been done wrong; getting it right is difficult and very possible. You have to be lean thinking about the solution. Power is critical..Its a problem and someone has to solve it!
Teacher/Facilitator/practitioner HRM,CUSTOMER CARE, Management strategy.
8 年Powering the next phase? I am for a quantum leap, but we haven't been able to power this phase, education in jeopardy, who pays what and how is an issue, scholarships are either unavailable or being mopped by privileged people. Its a horrible situation