Soludo woos power investors, unveils Anambra’s 1,000MW electricity ambition
By Goodness Ndukuba, Awka
Governor Chukwuma Soludo of Anambra State, has thrown open the state’s electricity market to investors, declaring that Anambra is ready for business as he seeks to bridge a massive power deficit threatening its industrial and economic growth.
Soludo made the call while delivering the keynote address at the maiden Electricity Market Investment Roundtable organised by the Anambra State Electricity Regulatory Commission (ASERC) at the International Convention Centre, Awka.
He emphasisd that Anambra requires approximately 1,000 megawatts of electricity to adequately power its economy but currently receives only about 120 megawatts, describing the huge gap as both a major challenge and an investment opportunity.
“This is just not another function coming to lament. Without electricity, there will be no manufacturing. Without energy, little else can happen. For us, it is very consequential. We are here to do business. Anambra is ready for business,” he said.
Soludo urged investors to take advantage of the numerous opportunities in the state’s electricity market, particularly those connected with the proposed Mixed Industrial City and aerotropolis.
He challenged participants to move beyond discussions and produce a practical, measurable and verifiable roadmap for closing the state’s electricity gap.
“Anambra needs about one thousand megawatts, but currently gets about one hundred and twenty megawatts. There is lamentation and opportunity. The gap in between is what we are trying to fill, and that is why we are here.
“Tell us when, where and how. Let’s get the plan, a clear roadmap, actionable, verifiable roadmap. Anambra is a land of opportunities. This is a summit for closing deals. Let’s get it done,” the governor stressed.
Declaring the roundtable open, Soludo reiterated his administration’s determination to create an enabling environment for private-sector participation in the electricity market.
Frank Okafor, the Chairman of ASERC and a professor in his remarks commended the governor for driving innovation and reforms in the state’s energy sector.
Okafor acknowledged the substantial electricity deficit in Anambra, explaining that the roundtable was convened to bring stakeholders together to develop practical solutions to the challenge.
“We are here to think together and come up with a solution that will help sort the challenge,” he said.
Ernest Ndukwe, the Chairman of the event, renowned telecommunications expert, described Soludo as a leader with the capacity to deliver the changes required in the state’s electricity sector.
Ndukwe expressed personal interest in participating in the emerging electricity market, declaring: “I want to be a player in the electricity revolution that is coming up in Anambra State.”
He further advised the state government to consider taking equity stakes in companies investing in electricity infrastructure in Anambra, describing such participation as a strong vote of confidence that could encourage other investors.
On the challenges confronting the sector, Ndukwe identified an appropriate tariff methodology and a strong regulatory framework, among other factors, as essential to attracting private investment and ensuring the sustainability of electricity reforms.
The roundtable attracted government officials, electricity-sector stakeholders and industry leaders from across the country.
Emeka Offor, the Chairman of Enugu Electricity Distribution Company (EEDC), also in his remarks, said he was delighted to be part of the Investment Forum, which reflects the collective determination to unlock the enormous economic potential of Anambra State.
I stand before you today not only as Chairman of our Group, but also as a proud son of Anambra State, an investor, and someone deeply committed to the progress and prosperity of our people.
He said that FirstPower Electricity Distribution Company Limited, a subsidiary of EEDC fully supports the vision and is committed to contributing meaningfully to its realization.
Offor stated that FirstPower has committed ₦13.3 billion, within next year 2027 in priority network investments, adding that another ₦40billion has been planned for the following 2 years 2028 and 2029.
“These investments will strengthen distribution infrastructure, improve metering, increase network capacity and enhance electricity reliability across the State.
“From the industries of Nnewi to the commercial centers of Onitsha and the emerging economic clusters across Anambra, we have the solid foundations for sustained economic growth. What we need is the enabling infrastructure, institutions and environment to unlock this potential,.
“FirstPower is willing and ready to collaborate with investors and stakeholders through commercially viable and mutually beneficial partnerships. We believe that a sustainable electricity market must be built on transparent regulation, respect for contractual obligations, investment protection, commercial discipline and fair returns on legitimate investment,” he affirmed.
The investment summit signals Anambra’s determination to transform its electricity market into a major driver of industrialisation, manufacturing, investment and economic prosperity.
