A gold fish has no hiding place and impact made causes a ripple effect! So is the story of Nigeria’s billionaire, Femi Otedola,
Femi has constantly disrupted many sectors of the economy providing service, when he ventured into the diesel market many didn’t give him a chance but with persistence and grit, he became a dominant player in the market.
Mr Otedola’s solution-oriented mantra has also propelled him into the electricity sector with Geregu in a bid to solve the niggling challenge of power.
It must be said the tepid production of power in Nigeria has hampered growth prospects in Nigeria and Geregu is poised to challenge that narrative.
Geregu Power Plc is pioneering progress and possibility, by providing the right infrastructure and expertise to build a robust sustainable power generation structure across Nigeria.
Acquired in 2013, with generating plants in Ajaokuta, Geregu is one of Nigeria’s leading GENCOs that uses gas turbine as a clean energy source to generate power.
Geregu is armed with
- 3 Gas Fired Siemens Turbines V94.2 STG5.2000E
- Acquisition – November 1st 2013
- Plant Overhaul 2016 – Increased capacity from 414Mw to 435Mw with potential for future growth and development
- Generated Voltage – 330Kv stepped up from 15.75Kv
- and I must add the passion and dedication of the management team is also an asset in providing effective service delivery.
Recently, Mr Otedola re-iterated his passion and philosophy for all round improvement of the energy sector.
Otedola stated this while speaking at the “closing gong ceremony” and commemoration of the first Annual General Meeting (AGM) on the floor of the Nigerian Exchange Limited (NGX) in Lagos.
He called on the incoming administration to do all it could to tackle power sector challenges adding that even though the power sector has its challenges, the incoming government could set its priority on tackling the challenges in the sector.
Otedola explained that the major problem is transmission, saying that if power is well organised it is even cheaper and would have a lot of positive impact on the manufacturing sector and the entire economy as a whole.
Industry watchers are excited about possibilities Geregu will bring to the energy market and one can only wish Geregu well, while we continue to look for ways to improve energy production in Nigeria to service our rapidly developing economic prospects.
