Financial Energy Review
Egbin Power, Nigeria’s largest power generation company, has underscored the importance of synergy among stakeholders in the energy sector to further develop and catalyse the country’s socio-economic growth.
Egbin Power’s CEO, Mokhtar Bounour, made this statement during the Leadership Summit of the 2024 Nigeria Energy Conference, held in Lagos. The panel session, themed “Gas to Power Generation: Market Dynamics and Energy Security,” brought together key industry leaders to discuss the challenges and opportunities in Nigeria’s power sector.
While discussing the crucial path toward the growth of the energy sector, Bounour emphasised the interconnected nature of the energy sector, noting that synergy among the players in the value chain would drive further development. He also highlighted the critical role of gas in power generation in Nigeria.
He said: “All stakeholders must work together to create an efficient system. All of us – from the GenCo, the Transmission Company of Nigeria (TCN), the Distribution Company, the regulators, and suppliers – have a common objective which is to ensure that customers have a steady supply.”
“At Egbin Power, we are part of the entire system, which is why we maintain solid and transparent communication and collaboration with regulators and partners across the value chain to ensure that electricity reaches homes and businesses,” he added.
Bounour further emphasized that gas is one of the most important factors in power generation in Nigeria. “We view our gas suppliers as partners, because their sustainability is our sustainability as well. Liquidity is also very important,” he explained.
Despite the challenges facing the sector, Bounour maintained that there are opportunities for investment and growth. According to him, Egbin Power has ensured strong partnerships with suppliers and regulators to fulfill its obligations and contribute to the sector’s development
The panel session featured industry experts who also noted that increased investment, collaboration, and commitment to resolving the identified challenges would further improve the sector.
As Nigeria’s leading power generation company, Egbin Power remains committed to increasing capacity without compromising reliability. The company has invested in infrastructure upgrades, modernization of equipment, and predictive maintenance to enhance efficiency and availability.
By prioritizing collaboration, investment, and innovation, Egbin Power aims to play a pivotal role in driving Nigeria’s sustainable energy future. Its efforts align with the government’s vision of a more prosperous and energy-secure nation.
In addition to its focus on renewable energy, Egbin Power is actively working to improve the efficiency and reliability of its existing power generation facilities.
The company has implemented advanced technologies and best practices to optimise its operations and reduce emissions, while supporting various community development initiatives and programmes aimed at improving the lives of Nigerians.
