The Chief Executive Officer, Century Power Generation, Chukwueloka Umeh, in this interview with Jonathan Eze, advises the country against supporting nuclear plants. He also speaks on other issues in the power sector. Excerpts:
So you don’t really know what the real demand in Nigeria is. When MTN came to Nigeria they thought that 500,000 lines were too much but now it is still struggling to meet the demand just like every other cellphone company. When private GENCOS and private Discos start working properly, they will struggle for many years to come to meet the demand and this is real. This is not speculating, this is real.
The installed capacity in Nigeria today is more than what is being distributed, which has remained a challenge. How do you think this can be addressed? When you let a company like Century power produce power and sell the power at a tariff, a cost reflective tariff that allows them to make their money back, which allows them to pay for the gas that they buy. Guess what? Century power will be able to run that plant 24 hours a day, seven days a week and oh, by the way, I should be allowed to sell that power to any DISCO.
So the value chain for this starts with gas production, if we produce gas then it goes to gas transportation through the pipelines that we have today. And then you get on to generating the electricity. You’ve got to transmit the electricity over the transmission lines currently owned by the Transmission Company of Nigeria . TCN then transmits the power to the respective distribution companies that eventually deliver the power to our homes.
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