Mr Femi Otedola, the chairman of Geregu Power Plc, announced plans to set up a power transmission project in collaboration with the Lagos state government.
He made the announcement on his social media handle during a meeting with Lagos State Governor Mr Babajide Sanwo-Olu and African Development Bank Group President Dr Akinwunmi Adesina in Lagos. If the project is approved and successful, it will be the first of this kind in Nigeria, because private persons have previously been prohibited from transmitting power in the nation.
The decision of Mr Femi Otedola follows President Bola Tinubu's recently approved Nigeria Electricity Act 2023, which provides state governments and private persons the right to transfer power in regions covered by the national grid. The law allows states, businesses, and people to create, transfer, and distribute energy in the country.
Read more: https://www.investingport.com/femi-...oration-with-lagos-state-government-and-afdb/