Energy Expert, Edosomwan welcome Fed Govt’s decision to fulfil Siemens project, boost power supply in the country during 2024 fiscal year
•Fredrick Edosomwan.
Energy Expert, Fredrick Edosomwan has welcome the decision of the Federal Government to accord priority to boosting of power supply in the country during the 2024 fiscal year.
President Bola Tinubu in his nationwide broadcast to mark the New Year said that he and German Chancellor, Olaf Scholz, at COP28 in Dubai agreed on. a new deal to speed up the delivery of the Siemens Energy power project that will ultimately deliver reliable supply of electricity to homes and businesses under the Presidential Power Initiative which began in 2018.
Tinubu also noted that other power installation projects to strengthen the reliability of our transmission lines and optimise the integrity of our National grid are ongoing across the country.
Just like Edosomwan is applauding the move, the Lagos Chamber of Commerce and Industry has also commended government’s commitment to power projects, including the Siemens Energy initiative and efforts to enhance the reliability of transmission lines as a positive step towards addressing the critical issue of electricity supply for a robust and diversified economy.
Its Director General, Dr Chinyere Alimona in a statement said that there is urgent need to address the structure of the power industry by bringing private sector investment into the transmission segment of the sector.
Edosomwan who is the Managing Director/CEO Infinte Radius Nigeria Limited made these comments while looking at the year 2023 in retrospective and what should be the focus of the federal government in the year 2024.
He however urged the President to match his words with action if he must achieve his plans which according to him could translates into repositioning of the nation’s economy.
The Energy Expert was of the view that government should put measures in place to prevent reccurring ccollapses of the National Grid that thrown the nation into darkness for the most part of 2023 and set back to economic potentials of the nation.
He believes the country will achieve more in boosting power supply through aggressive investment in Alternative power solutions inncluding Solar.
The Energy Expert said further and i quote” There is the need for aggressive campaign against vandalism of power infrastructure nationwide with appropriate sanctions for the culprits to serve as deterrence. Another area of focus should be to guide against power wastage. Nigeria will save more power for domestic and industrial use if we stop the habit of power wastage”. End of quote.
