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Nigerian power sector in a very poor state — Transcorp CEO



The President/Chief Executive Officer Transcorp Hotels Plc, Mr Valentine Ozigbo, yesterday, stated that the Nigerian power sector is in a very poor state, stressing that 84.8 million Nigerians do not have access to electric power, a far cry from other Africa oil producing states’ scores.

Ozigbo, who stated this at the fact behind the figures presentation of Transcorp Hotels held at the Lagos Floor of the Nigerian Stock Exchange, NSE, explained that presently 14,134 MW of Nigeria’s power requirement is met through self generation.

In his words, “With an electric rate of 45 percent, Nigeria is largely reliant on self generation. An estimated 41 percent of Nigerian businesses generate their own power to augment the limited grid supply.

Vanguard, Wednesday, March 27

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