Otedola partners Lagos state and AfDB to develop Nigeria’s first PPP power transmission project


The chairman of Geregu Power Plc Mr. Femi Otedola has disclosed plans to develop a power transmission project in partnership with the Lagos state government.

He disclosed this on his social media handle after a meeting with the Lagos state Governor Mr Babajide Sanwo-Olu and the President of the African Development Bank Group Dr Akinwunmi Adesina in Lagos state.

If the project comes to light, it will be the first of its kind in Nigeria as hitherto, private individuals were not allowed to transmit power in the country.

Nigeria’s electricity act 2023
The move comes on the heels of the recently signed Nigeria Electricity Act 2023 by President Bola Tinubu which grants state government and private individuals the license to transmit electricity in areas covered by the national grid. According to the provisions of the law, states, companies and individuals can generate, transmit and distribute electricity in the country.

The law also demonopolized electricity regulation by transmitting such responsibilities to state governments anytime they establish their regulatory agency.

Lagos State’s electricity plans
Nairametrics earlier reported the Lagos state government plans to fully take advantage of the new electricity act and establish a sustainable electricity market with a strong commercial framework.

In another report by Nairamterics, the state identified public-private partnerships as key in driving investment in the power sector.

Power transmission has been a major problem in Nigeria- the country has persistently witnessed transmission grid collapse. In 2022, the national grid collapsed over 10 times necessitating a national blackout on every occasion. While Nigeria has a generation capacity of 22000 megawatts, the country can only transmit about 4000 to 6000 megawatts of electricity.

Lagos state is Nigeria’s biggest economy, and the fifth biggest economy in Africa. Its GDP in 2022 stood at $29 billion. The state electricity demand in 2020 was 10,000 megawatts and the power supply was only 1900 megawatts.

Femi Otedola is a billionaire investor with business interests in oil and gas, power, banking, shipping, real estate etc. He is the chairman of Geregu Power plc, one of the major shareholders in First Bank plc

ODUBEZE:
Otedola worked for APC, so it's contract time

He has to recoup his money

That's Nigerian politics for you

[b]Afe Babalola is another beneficiary of Tinubu, disguising as a statesman

We know them [/b]

FreeStuffsNG:
.

https://nairametrics.com/2023/07/11/otedola-partners-lagos-state-and-afdb-to-develop-nigerias-first-ppp-power-transmission-project

michlins:
Lagos is on another level entirely. Hate it or like it, it's inconsequential

ODUBEZE:
Otedola worked for APC, so it's contract time

He has to recoup his money

That's Nigerian politics for you

Afe Babalola is another beneficiary of Tinubu, disguising as a statesman

We know them

FacilitatorLekk:
This is what other states should be doing for their states and people.

FreeStuffsNG:
Good news to investors with Geregu shares

This is the Best Time to invest in Lagos and neighbouring fellow Yoruba SW states.

if you hate and resent your Yoruba host, this is the worst time to invest in Yorubaland. You will lose because of your hate for your host who own the land.

Invest in Lagos today with a good patriotic heart and not with a heart full of hatred and bigotry against your host so you will not lose everything you bring to Yorubaland.

God bless Lagos state and may God bless Nigeria for ever!

FreeStuffsNG:
Good news to investors with Geregu shares

This is the Best Time to invest in Lagos and neighbouring fellow Yoruba SW states.

if you hate and resent your Yoruba host, this is the worst time to invest in Yorubaland. You will lose because of your hate for your host who own the land.

Invest in Lagos today with a good patriotic heart and not with a heart full of hatred and bigotry against your host so you will not lose everything you bring to Yorubaland.

God bless Lagos state and may God bless Nigeria for ever!

Throwback:



Are the We Igbos?

Just asking to better understand your plight.

Of all the things written, pronoun is your own plight

Education would have taught you that all tribes are humans first but no! Politics has dealt you a big blow

Sorry for you!

ODUBEZE:

Of all the things written, pronoun is your own plight

Education would have taught you that all tribes are humans first but no! [b]Politics has dealt you a big blow

Sorry for you![/b]

CodeTemplar:
Okay. But who will transmit their power over this line?

franchasofficia:
Is this bitter rant necessary? You made a beautiful post but spoilt it with this unnecessary bitter comment.


I am Igbo, a reputable man from my community is Femi Otedola's close friend and ally right from the time of Goodluck. He was among the people that mediated for Otedola when he was bankrupt and Goodluck bailed him. He visited Otedola almost monthly in Ghana where Femi was spending most of his time then until Goodluck came to power and bailed him. He is Igbo, he is closer to Femi Otedola than you that's same tribe with Femi Otedola.



My point is, only poor wretched and bitter people carry tribalism on their head like gala even when there is no need to.



I lived in Lagos for years, Lagos favored me a lot. I owe Lagos state tribute for my life's success. I cherish Lagos even more than my own state. I never wished Lagos bad, in fact I once wished Lagos could become a megacity like Paris, reason I supported a change in government in Lagos so Lagos can achieve its full potentias. I never for once disrespected Lagos and will never do. I paid all my levies and dues and even tax to Lagos state government. I contributed in my community development in Lagos because I was once a committee member of my LCDA and estate. We ensured we had adequate security. The chairman of my estate landlord and tenants association for over 6 years was an Igbo man.



Many of you go about spreading falsehood about Igbos and causing unjustified hatred for Igbos by falsely lying that Igbos don't honor or respect their host and I keep wondering how? This worthless claim only come to limelight every 4 years in Lagos that its election time that Lagos APC use the tactics to deceive bigots like you to vote for them and attack Igbos yet you refuse to use your wisdom.



Tell me categorically how Igbos disrespect Lagos indigenes in Lagos?



Don't start that Lagos is a no man's land mantra cos it was a positive slang started by a Yoruba man who was Lagos Governor and some Igbos used it to explain how welcoming Lagos is to everybody without discrimination. Never for once did Igbos contest to become Oba in Lagos or attacked Lagosians in a bid to snatch and take over their lands like Fulani herdsmen do yet you never for once condemned Fulani tribe for that.



God and divinity will judge people like you. Be careful in life, life is deeper than internet fun and cruise catching cos u are causing heavy hatred and distortion of truth with the potential of causing genocide and ethnic civil war.



What crime did Igbos commit in 2023? That Peter Obi an Igbo man contested for Nigeria's President? First time Igbos massively supported an Igbo Presidential candidate after Igbos supported Presidential candidates from other tribes; Shagari (Hausa), Obasanjo (Yoruba), Yaradua (Fulani), Goodluck (Ijaw), Atiku (Fulani) yet you guys have been going on rampage just because Igbos supported an overqualified and competent Igbo Presidential candidate for once.



Be honest, if it was Igbos that produced Obasanjo from 1999 to 2004, Osinbajo from 2015 to 2023, and still insisted they must produce next President in 2023, how will Yorubas and Hausa-Fulanis have reacted to it? You guys would have told the whole world how greedy, heartless and arrogant Igbos are and trying to dominate Nigeria. God is watch you all

EcoNews:
Shut you foolish Igbo mouth n go rot in the deepest part of hell.. Sebi na your Igbo foolish papa de know when everybody de broke .
Tell your point to your father no one needs them here. Oponu !

So because Igbo supported Pandoraa Obi Yorubas should not support whoever they like ? Why must it always be you foolish people complaining all the time once you are unable to have your pathetic way over others.

Atiku won only a state in Osun why are his tribesmen not lamenting like you fools ?

MKO contested 1993 n won only one Igbo state Pandoraa Obi did same in 2023 n won 1 state in the West yet your father his wailing like a miserable souls here so you clown think you deserve more than you give. You have to be mad.

When Yoruba voted massively for Falae with him winning all the 6 Yoruba state you Igbo voted Obasanjo that couldn't win his LGA n you think your pathetic life is not deep in bigotry n foolishness yet you give yourselves accolades for voting against Yoruba choice, you must be mad.

Only wretched n foolish Igbos you mean carry tribalism for head the like of firefire princeoflagos n host of others. You are definitely right about that

FreeStuffsNG:
.

https://nairametrics.com/2023/07/11/otedola-partners-lagos-state-and-afdb-to-develop-nigerias-first-ppp-power-transmission-project/

sapele914:
Yet some mediocres were ready to choose an Empty Barrel from Anambra over an open eye son of Eko?

Mumus.

drlateef:




They will not hold their governors to account. Rather they will run away from the crumbling state to Lagos. Then they will claim Lagos belongs to them.