Egbin records 360MW daily shortfall, mulls $40m investment for turbines’ overhaul


  • Egbin Power Plc launches 20 electric-powered buggies, 500 electric-powered bicycles 


Biggest thermal power generation firm in West Africa, Egbin Power Plc, on Tuesday, declared that it recorded a shortfall of about 360 Mega watts (MW) of power generation daily.

Chairman of the company, Temitope Shonubi, who declared this during the launch of 20 electricity-powered buggies and 500 electric-powered bicycles at the plant in Lagos, revealed the company’s plan for fresh $40 million investment on the overhaul of two turbines in its system.

Fielding questions from Platforms Africa, Shonubi said; “We, at Egbin, also have the capacity to evacuate 860MW but today we generate only slightly above 500 MW.

“What we do today is going to determine how the future will be. With this effort, we are equipping ourselves for tomorrow.

“One in every power consumers in Nigeria, gets power from Egbin and the launch of these electricity-powered buggies and bicycles shows that we at Egbin, are already, taking the leadership in boosting electricity-power auto industry in Nigeria.

Stating that Nigeria’s power sector still holds the key to industrialisation and economic emancipation, Shonubi maintained that all stakeholders’ collaboration is needed to fix the industry.

“The N2 billion annual spending by the government for electricity subsidy is not sistainable. We, at Egbin, also have the capacity to evacuate 860MW but today we generate only slightly above 500 MW.

“About 360 MW, in essence, are not trapped ungenerated due to multifaceted factors.

One of these is gas another is TCN (Transmission Company of Nigeria (TCN), and another is internal issue. For instance We will need $20million for the overhaul of each of the two steam turbines in our system,” he said.

On the electricity-powered buggies and Bicycles launched by his company, Shonubi said; ” the buggies and bicycles were 100 per cent manufactured in China but assembled in Nigeria.

“Though the buggies and bicycles are presently for tranportation of staff, 40 million Nigerians are being targetted.”

Expressing optimism over the success of the new ventures, the Egbin Chairman said; “Tesla doubled the value of Shell and all Tesla does is electricity.”

¥resent at the occasion are the Director, Egin Power plc and Ikeja Electric, Ade Odunsi, and the Chairman, Ikeja Electric, Kola Adesina.


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