Stakeholders in the electricity distribution chain, yesterday, declared that the country required $40 billion to attain the target of 20,000 mega watts of electricity generation by 2020.
Speaking with journalists in Abuja, spokesman of the Association of Nigerian Electricity Distributors, ANED, Sunday Oduntan, however, said integrated resource planning must be applied if the nation should embark on the 20,000 MW vision.
Oduntan noted that this new approach would involve detailed planning of all resources needed for the project, including its precedents and dependencies.
He said: â€œAll project capital and deployment tasks must be planned in an integrated way,â€ noting the â€œproject completion dates must be realistic and completed around the same time in order to avoid a situation such as the one we have with NIPP plants â€“ constructed, but without sufficient fuel supply, fuel infrastructure, or evacuation capacity.â€
Oduntan, who gave the break-down of quantum of capital required for the 20,000 MW system, said under the generation capex, the recondition equipment (Genco) will gulp $1 billion, recondition equipment (NIPP), $1 billion, new construction (10,000 MW), $12 billion, New Gas Pipelines, $2 billion and buy-out NIPP Capital, $6 billion, respectively