Over 140m Nigerians lack access to energy – Hiers MD
Hiers CEO, Mr Osayande Igiehon flanked in the middle by Mr Mokhtar Bounour, CEO, Egbin Power PLC, Mr Oliver Onyekweli, partner, McKinsey and Company and other notable stakeholders in the sector.
By Yunus Yusuf
The Chief Executive Officer of Hiers Energies, Mr Osayande Igiehon, says over 140 million Nigerians lack full access to energy.
Igiehon said this at the just concluded 2024 Nigeria Energy Summit held in Lagos.
The Chief Executive Officer of Hiers Energies, while quoting the International Energy Agency report, explained that the statistic represents about 71 per cent of the population.
He emphasised the urgent need to harness Nigeria’s natural resources for energy security and sustainable development.
“Gas-to-power solutions are not merely an option; they are the cornerstone of Nigeria’s energy future,.
“These solutions have the potential to dramatically improve on the lives of millions and serve as the foundation for industrialisation, innovation, and productivity,” he said.
He underscored the fact that reliable electricity was no longer a luxury but a fundamental driver of human development, powering hospitals, schools, businesses, and other vital sectors.
Igiehon noted that the Nigerian government has set ambitious targets for the electricity sector, aiming at providing access to electricity for over 90 percent of the population by 2030.
“While this goal may seem challenging, it is achievable if we work together and leverage on our natural gas reserves.
“Realising this potential requires more than just good intentions; it demands concerted action from all stakeholders.
“The government must establish a stable and transparent regulatory environment to encourage investment in gas production, infrastructure and power generation,” he added.
He pointed to the 2021 Petroleum Industry Act and the 2024 presidential directives for the Oil and Gas Industry as critical drivers for gas production and transportation.
Igiehon also mentioned the 2022 power sector reform bill, which allows private organisations to engage more actively in electricity generation, transmission and distribution.
“The private sector must step up with innovative solutions and capital to upgrade infrastructure for gas processing facilities, pipelines and power plants,” he stated.
According to him, the Rural Eradication Agency of Nigeria estimates that scaling rural energy solutions through distributed solar generation, mini-grids and off-grid technology could generate over nine billion dollars annually.
“We, as industry leaders, must collaborate more than ever.
“The challenges we face are complex and require effective collaboration between the public and private sectors to achieve our objectives.
“Hiers Energies is committed to playing its part as a strategic supplier of gas to key industries and power plants across Nigeria,” Igiehon concluded.
