Home Electricity Incoming administration must tackle electricity problem- Otedola

Incoming administration must tackle electricity problem- Otedola


Billionaire businessman, Femi Otedola, has urged the incoming government of Bola Tinubu to take the issue of power supply very serious.

The business mogul, who is also the Chairman of Geregu Power Plc gave this advice on Tuesday on the floor of the Nigerian Exchange Limited at the closing-gong ceremony to commemorate the first annual general meeting of Geregu Power.

He said that the key challenge in the sector was transmission addimg  that if power sector was well organised, it would have a lot of positive impact on the manufacturing sector and the economy as a whole.

He said, “I believe we are now in the stage that the power sector will get a lot of attention. We have new plants.

“Our problem is transmission; there is need to look in this direction. We are in a stage where the new government can come and tackle the challenges in the power sector and hopefully there will be positive results. So, what is needed is to seek investors who have knowledge of the private sector to work on these challenges.”

Speaking on the listing  power company on the NGX, he said, “We had come to the Exchange to list for the very first time; The first power company to embark on an aggressive 300 per cent expansion drive; the first company to release its financial result and so I’m happy to be here.”


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