Welbeck Electricity Distribution CEO, Afolabi Aiyela, has proposed a partnership with the Federal Government to enhance power supply in Nigeria’s industrial clusters and free zones. During a meeting with Minister of Industry, Trade and Investment, Doris Uzoka-Anite, Aiyela emphasized the impact of reliable power on manufacturers, citing increased production, capacity expansion, and job creation.
Aiyela expressed interest in developing dedicated power plants for Nigeria’s free zones and industrial clusters, ensuring consistent and cost-effective energy supply. He also advocated for pricing domestic Nigerian gas in Naira instead of US dollars, which would reduce energy costs and stabilize prices for manufacturers.
Minister Uzoka-Anite acknowledged the significance of power costs for manufacturers, accounting for 60% of operating costs, and assured the Federal Government’s commitment to supporting independent power producers like Welbeck. She cited Ghana and Senegal as examples of countries with lower energy costs due to stable power supplies, enabling more competitive manufacturing industries.
The Federal Government aims to reduce electricity costs to below N150 per kWh, aligning with regional peers and boosting the manufacturing sector. Aiyela appreciated the government’s initiatives, including the Industry Revitalisation Roadmap Fund, which will benefit micro and nano enterprises and contribute to Nigeria’s industrial base development.
