For decades, Nigeria has been battling the issue of inadequate power supply which has greatly affected their economy. To counter this problem, consultation talks are ongoing between the government of Nigeria and Rasatom- a Russian company, to put up nuclear power plant in the country. The company will design, construct, operate and decommission the plants at a cost of US$80bn.
Franklin Erepamo Osaisai- Chief Executive of the Nigeria Atomic Energy Commission stated that nuclear power promises a long term power supply as compared to what has been experienced in the past years.
According to the statement issued by the company’s spokesperson, final decisions are yet to be made by the Nigerian government. The company has successfully executed several nuclear power plants or projects in different parts of the world. One nuclear plant can cost between US$5bn to US$8bn .
With a population of about 170 million people, Nigeria has a power installation capacity of about 7000MW, which is 7 times greater than that of South Africa. The country is targeting to generate 40, 000MW by 2020. Currently, about 80% of the country’s power plants are gas-fired.
After privatising some of its power stations two years ago in a bid to attract foreign investors and improve upon power generation, slow progress has been recorded given that several old plants that were sold back in 2013 are desperately in need of mechanical attention as inadequate gas supply has lead the plants to be dormant.
The country has also made agreements with One Nation Energy Platform Ltd to comstruct a 500MW coal-fired power plant in Enugu, Eastern part of the country.