Otedola urges incoming govt to address power challenges
Businessman and Chairman, Geregu Power Plc, Femi Otedola, has called on the incoming government to tackle challenges in the power sector of the country.
Otedola said this on Tuesday on the floor of the Nigerian Exchange Limited at the closing-gong ceremony to commemorate the first annual general meeting of Geregu Power.
According to Otedola, the major problem in the sector was transmission. He said that if power sector was well organised, it would have a lot of positive impact on the manufacturing sector and the economy as a whole.
He said, “I believe we are now in the stage that the power sector will get a lot of attention. We have new plants.
“Our problem is transmission; there is need to look in this direction. We are in a stage where the new government can come and tackle the challenges in the power sector and hopefully there will be positive results. So, what is needed is to seek investors who have knowledge of the private sector to work on these challenges.”
On the listing of the power company on the NGX, he said, “We had come to the Exchange to list for the very first time; The first power company to embark on an aggressive 300 per cent expansion drive; the first company to release its financial result and so I’m happy to be here.”
Otedola noted that for any company to sustain wealth, there was a need to list on the Exchange.