Business A.M
No Result
View All Result
Wednesday, February 18, 2026
  • Login
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
Subscribe
Business A.M
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
No Result
View All Result
Business A.M
No Result
View All Result
Home Electricity

Africa needs $250 billion to scale up its electricity-Momoh

by Admin
December 20, 2018
in Electricity, Energy
Africa requires about $250 billion worth of public private partnership investment to address the power deficit situation on the continent, James Momoh, the Executive Chairman, Nigerian Electricity Regulatory Commission (NERC) has said.
He said in order to reach the United Nations’ (UN) target of Universal Access by 2030, the continent will need to add around 250 gigawatts (GW) capacity.
According to statement, the NERC boss said the total generation capacity of Africa stands at about 147 gigawatts (GW) which is shared by the entire region. Hefurther said South Africa as a region consumes about 45 gigawatts (GW), North Africa consumes 50 gigawatts (GW), with their citizens having 99 per cent access to electricity, while the remaining balance of about 50 gigawatts (GW) is shared among the 49 countries that make up Sub Saharan Africa.
“In Angola, 15 million people have no access to electricity, with its national electricity rate at 30 percent; Republic of Benin, seven million without access to electricity, with national electricity rate of 29 percent; Burkina Faso has 14 million people without electricity with the country’s level of electrification at 17 percent”, he said.
He however lauded the success story in West Africa, namely Ghana whose electrification rate is at 72 percent, the highest in West, East and Southern Africa, which Momoh said can be attributed to the implementation of a National Electricity Policy from 1989 to date.
On the other hand, Nigeria’s electrification rate is stuck at 45 percent with half of its population having no access to electricity and might not if “we do not come up with a dynamic strategy to bridge the energy gap in the country,” Momoh warned.
He explained the detrimental effects on the power deficit which cuts across all sectors of the economy, and as a result, of the governments’ inability to provide the energy needs of their people, adequate provision of health services, schools, clean water, food security and industries to their people.
He also said that countries like Nigeria spend about one to five per cent of their GDP yearly to generate electricity from expensive diesel power generation in order to meet their power needs.
Admin
Admin
Previous Post

GlaxoSmithKline, Pfizer megadeal to create world’s medical superpower

Next Post

Nigeria’s excess crude account drained by $1.6bn in one month, says finance ministry

Next Post

Nigeria's excess crude account drained by $1.6bn in one month, says finance ministry

  • Trending
  • Comments
  • Latest
Igbobi alumni raise over N1bn in one week as private capital fills education gap

Igbobi alumni raise over N1bn in one week as private capital fills education gap

February 11, 2026
NGX taps tech advancements to drive N4.63tr capital growth in H1

Insurance-fuelled rally pushes NGX to record high

August 8, 2025

Reps summon Ameachi, others over railway contracts, $500m China loan

July 29, 2025

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

BUA Group leads Gulf–West Africa drive for integrated food and logistics corridor

BUA Group leads Gulf–West Africa drive for integrated food and logistics corridor

February 18, 2026
FairMoney expands SME credit access to boost financial capacity

FairMoney expands SME credit access to boost financial capacity

February 18, 2026
Logistics coordination is a structural efficiency reform, not luxury —Scott Dubin, Logistics Marketplace

Logistics coordination is a structural efficiency reform, not luxury —Scott Dubin, Logistics Marketplace

February 18, 2026
Ladi, rising on global tech space

Ladi, rising on global tech space

February 18, 2026

Popular News

  • Igbobi alumni raise over N1bn in one week as private capital fills education gap

    Igbobi alumni raise over N1bn in one week as private capital fills education gap

    0 shares
    Share 0 Tweet 0
  • Insurance-fuelled rally pushes NGX to record high

    0 shares
    Share 0 Tweet 0
  • Reps summon Ameachi, others over railway contracts, $500m China loan

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • What’s Behind the Fourth-Quarter Earnings Dip?

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

BUA Group leads Gulf–West Africa drive for integrated food and logistics corridor

BUA Group leads Gulf–West Africa drive for integrated food and logistics corridor

February 18, 2026
FairMoney expands SME credit access to boost financial capacity

FairMoney expands SME credit access to boost financial capacity

February 18, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us

© 2026 Business A.M