The Chief Executive Officer of Welbeck Electricity Distribution, Afolabi Aiyela has proposed a partnership with the Federal Government to enhance power supply in Nigeria’s industrial clusters and free zones.
Aiyela made the proposal during a recent meeting with the Minister of Industry, Trade and Investment, Doris Uzoka-Anite, in Abuja, according to a statement released by the company.
Aiyela emphasized that reliable and uninterrupted power supply has significantly benefited Welbeck’s customers, particularly manufacturers.
He noted that consistent electricity has not only enabled continuous production but also driven capacity expansion and job creation within the sector.
Our clients, primarily manufacturers, have seen significant growth due to the steady power supply we provide. This has allowed them to maintain constant production, expand operations, and create more employment opportunities,” Aiyela stated.
Hee conveyed Welbeck’s interest in building specialized power plants. He also demanded that domestic Nigerian gas be priced in Naira rather than US dollars in order to provide Nigeria’s free zones and unique industrial clusters with a reliable and affordable energy supply.
Aiyela said a review of the currency used in pricing would benefit the manufacturing sector by reducing energy costs and stabilising prices.
He said, “If domestic gas were priced in naira, it would help manufacturers increase their capacity, lower energy costs, and enhance the competitiveness of Nigerian products both locally and globally.”
Aiyela pointed out that lower energy costs would not only benefit the manufacturing sector but also contribute to Nigeria’s overall economic growth by enabling manufacturers to expand their operations and create more jobs.
Uzoka-Anite acknowledged that power accounted for roughly 60% of the operating costs for manufacturers in the nation.
She also stated that the Federal Government was committed to supporting independent power producers, such as Welbeck to ensure Nigeria’s industrial sectors receive the energy they require at a sustainable cost.
The minister cited Ghana and Senegal as examples of countries with lower energy costs due to stable power supplies, which enabled them to develop more competitive manufacturing industries.
According to her, the Federal Government wants to bring Nigeria’s energy prices down to less than N150 per kWh so that it can compete with its neighbors and support the country’s manufacturing industry.
Aiyela expressed gratitude for the Federal Government’s efforts, citing the Industry Revitalization Roadmap Fund in particular, as a means of bolstering the real sector and advancing the long-term growth of Nigeria’s industrial base.
Nigeria has been faced with continuous poor power supply and blackouts despite various reforms carried out in the power sector by the government.
