Future Energy Nigeria to unpack new Power Sector Recovery Program
The rebranded Future Energy Nigeria will return to Lagos in November and will focus on the bold turnaround plan of the Nigerian government, known as the Power Sector Recovery Program, which is earmarked to restore investor confidence in the sector following reported problems in the country’s electricity market. U$D7.6-billion has been earmarked for this recovery process that the government developed in partnership with the World Bank.
“The Nigerian government is serious about restoring investor confidence and providing an enabling environment for growing private investments in the electricity sector,” says Claire O’Connell, event director of Future Energy Nigeria. She adds: “There are huge opportunities in the Nigerian electricity supply industry for local and international investors. There are also very advantageous incentives in place for investors such as cost reflective tariffs for electricity, 0% duty on power generation equipment and 20% capital allowance for five years.”
Nigeria’s energy sector, quick facts*:
- Current installed generation capacity: 11.1 GW (2016)
- Aimed for installed capacity by 2030: 32 GW
- Investment required to reach this goal: U$D26.99-billion
- Generation mix of 2030 goal includes:
- Gas: 41%
- Solar PV: 16%
- Large hydropower: 15%
- Coal: 10%
- 18%: nuclear, small-medium hydro, biomass, solar thermal and wind.
Transmission & Distribution:
- Current transmission capacity: 6.6 GW
- Aimed for capacity by 2022: 20 GW
- The Transmission Company of Nigeria (TCN) estimates it will need about U$D4.2-5-billion until 2020 to rehabilitate and modernise existing facilities.
- Complete projects are already under construction to expand the network to 10 GW.
*Information source: “Uncovering growth opportunities in a connected world”, Strategic Environment Analysis, Country power sector report – Frost & Sullivan, July 2017
According to Future Energy Nigeria‘s Claire O’Connell the extensive opportunities in Nigeria for technology and service providers to the industry include:
- Expansion of existing facilities in generation, transmission and distribution
- Manufacturing of wires, cables, transformers and other auxiliary equipment
- Building new integrated power plants (IPPs)
- Expansion of existing transmission lines
- Production and distribution of metering devices
- Provision of operations and maintenance services
Some conference speaker highlights:
- Onyeche Tifashe, CEO, Siemens, Nigeria
- Akinwole Omoboriowo, CEO, Genesis Energy, Nigeria
- Patrick O. Okigbo III, Principal Partner, Nextier, Nigeria
- Sunkanmi Olowo, Head SME Banking, Ecobank, Nigeria
- Bart Nnaji, CEO, Geometric Power, Nigeria
- Joy Ogaji, Executive Secretary, Association of Power Generation Companies, Nigeria
- Joel Abrams, Managing Director, Nigeria Solar Capital Partners, Nigeria
- Olumide Noah Obademi, CEO, Afam Power PLC, Nigeria
- Nicholas Okafor, Partner, Udo Udoma & Belo-Osagie, Nigeria
- Olubunmi Peters, Executive Vice Chairman, North South Power Shiroro, Nigeria
- Segun Adaju, President, Renewable Energy Association of Nigeria, Nigeria
- Engr. Faruk Yabo, Director Renewable Energy & Energy Efficiency, FMoPWH
The 14th edition of the event once again enjoys widespread support from the industry with Lucy Electric, a global secondary distribution leader in the electricity sector, returning as platinum sponsor, while Jubaili Bros and Genesis are gold sponsors and Conlog, Landis+Gyr, Hexing and Vodacom are silver sponsors.
New brand – same, innovative event
Future Energy Nigeria (formerly known as the West African Power Industry Convention – WAPIC), with the support of the Federal Ministry of Power, Works and Housing, Transmission Company of Nigeria, Nigeria Electricity Regulatory Commission, Distribution Companies and prominent Generation companies, will once again host many of the country’s leading energy decision makers from 7-8 November 2017 at the Eko Hotel & Suite Convention Centre in Lagos, Nigeria.
The Future Energy Nigeria is recognised as being a distinctive gathering of stakeholders within the power value chain which includes governments, power generation companies, transmission and distribution companies, off takers, developers, Investors, Equipment manufacturers and providers, technology providers, EPCs, legal and consulting firms all with a shared goal of supporting the on-going implementation of finding lasting solutions to Nigeria’s energy challenges. Co-located to the event is the Oil & Gas Council’s Nigeria Assembly.
Future Energy Nigeria dates and location:
Strategic conference: 7-8 November 2017
Venue: Eko Hotel & Suite Convention Centre, Lagos, Nigeria.