‘’As Determinant of Investment in proven end-to-end electrification technology, where it will directly tackle the scourge of unemployment, poverty and inequality, creating an inclusive and prosperous Nigeria that can only be achieve where there is sufficiency in control and monitoring technology in power sector. With uninterrupted access to electricity, businesses are more productive, hospitals provide better medical care, children receive a better education at school, and homes are safer and more comfortable,” . To make electricity more easily accessible to the whole population, power generation capacity must be ramped up and streamlined,”
The is coming from Siemens Nigeria’s chief executive officer, Mr Onyeche Tifase. Accordingly, she said Nigeria has the potential to achieve 7.0 percent gross domestic product GDP, growth rate and lift 70 million people above poverty provided there is sufficient access to electricity across the country. Making this observation yesterday, Siemens Nigeria’s chief cited deployment of smart metering technology and sophisticated tracking system to pinpoint illegal connections as well as increased collaboration beteewn power sector operation and trusted suppliers as factor that will determine the achievement of sufficient electricity for all Nigerians; Tifase added
“International studies suggest that Nigeria could potentially achieve over seven per cent annual GDP growth, making it a top-20 economy by 2030 with GDP of more than $1.6 trillion, four times the current GDP. This translates into 70 million people being moved above the poverty line in little more than a decade. But the fact remains that this potential will never be realised without sufficient access to end-to-end electrification, which is the backbone of any thriving economy.
This includes power generation, transmission, distribution and the efficient application of electrical energy through automation.” He noted that though 60 per cent of Nigeria’s 182 million population have access to electricity, majority of the power is generated by an ageing and inefficient grid that loses 8.6 gigawatt, GW, which represent 69 per cent of the country’s 12.5 GW installed capacity. “These substantial losses are a result of inefficient controls, monitoring technology and outdated infrastructure.