Investing in Africa’s power sector’ll alleviate poverty – Elumelu

Alade Abayomi ADeleke
Alade Abayomi ADeleke

The Chairman of Heirs Holdings, Tony Elumelu, has called on the private sector stakeholders to ensure adequate investments in Africa’s power sector in order to alleviate poverty.


Elumelu, who is also the chairman of Transcorp Power Limited, made this statement on Monday, while receiving the discharge certificate of the Ughelli power plant.


The certificate was presented to the United Bank for Africa chairman by the Vice-President, Yemi Osinbajo, prior to the commencement of the National Council on Privatisation meeting.


The Ughelli power plant, a gas-fired thermal plant with 972 megawatts capacity has been privatised since 2013.


The Cable reported that, Elumelu, speaking with newsmen on the sidelines of the event, said the company has been operating under strict safety standards since Transcorp Group took over in 2013.


He said, “We have been operating since 2013 and there has been no incident and health standards and we will continue to see it that way because we know that in the 21st century, sustainability is key, health is important and safety is extremely important. And so we bring all of these together in what we do at Transcorp Group.


“And finally, I would like to say that we do not grow alone at Transcorp Group; we grow with the community. We have grown with that community. We have helped to develop the community we are operating in.


“We have a functional hospital. We have primary and secondary schools, and we will continue to do more. And we believe in life that that philosophy that Africapitalism is a symbiotic relationship.


“We support the community and the community supports us. We see a tie in destiny in all of us. So for us at Transcorp, it is about improving lives and transforming our society.


“I want to use the opportunity to call on friends, Africans and private sector leaders to prioritise the power sector in Nigeria and Africa so that we can lift our people out of poverty and create job for our young ones.”


Elumelu also noted that lives of Africans cannot be sufficiently improved without “massive” investment in access to electricity.

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