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Welbeck proposes partnership with FG to boost power supply

Afolabi Aiyela, Chief Executive Officer of Welbeck Electricity Distribution, has proposed a partnership with the Federal Government to improve power supply in Nigeria's industrial clusters and free zones.

Aiyela made the proposal during a recent meeting in Abuja with the Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, according to a company press release.

Aiyela emphasised how Welbeck's customers, particularly manufacturers, have benefited greatly from reliable and uninterrupted power supply.

He stated that consistent electricity has not only enabled continuous production, but has also fuelled capacity expansion and job creation in the sector.

Our clients, primarily manufacturers, have experienced significant growth as a result of the reliable power supply we provide. This has enabled them to maintain consistent production, expand operations, and create additional job opportunities," Aiyela stated.

Hee expressed Welbeck's interest in developing specialised power plants. He also demanded that domestic Nigerian petrol be priced in Naira rather than US dollars so that Nigeria's free zones and unique industrial clusters have a consistent and affordable energy supply.

Aiyela stated that a review of the currency used for pricing would benefit the manufacturing sector by lowering energy costs and stabilising prices.

He continued: "If domestic petrol were priced in naira, it would help manufacturers increase their capacity, lower energy costs, and enhance the competitiveness of Nigerian products both locally and globally."

Aiyela emphasised that lower energy costs would benefit not only the manufacturing sector, but also Nigeria's overall economic growth by allowing manufacturers to expand operations and create more jobs.

Uzoka-Anite acknowledged that power accounted for approximately 60% of the nation's manufacturing operating costs.

She also stated that the Federal Government was committed to assisting independent power producers such as Welbeck in ensuring that Nigeria's industrial sectors receive the energy they require at a reasonable cost.

The minister cited Ghana and Senegal as examples of countries with lower energy costs due to reliable power supplies, allowing them to develop more competitive manufacturing sectors.

According to her, the Federal Government intends to reduce Nigeria's energy prices to less than N150 per kWh in order to compete with neighbouring countries and support the country's manufacturing industry.

Aiyela expressed gratitude to the Federal Government for its efforts, citing the Industry Revitalisation Roadmap Fund in particular as a means of bolstering the real sector and advancing Nigeria's industrial base in the long run.

Despite the government's various power sector reforms, Nigeria continues to experience poor power supply and blackouts.

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