Lagos, Jan. 29, 2025 (Naija247news) – As Nigeria seeks to attract investment into its power sector, local manufacturer and industry expert, Mr. George Onafowokan, has called on the Federal Government to prioritize homegrown solutions for sustainable energy development.
Thank you for reading this post, don't forget to subscribe!Onafowokan, the Managing Director of Coleman Wires and Cables Industries Ltd., made this call in response to the government’s 2024 declaration of investment opportunities in gas, hydro, coal, and renewable energy projects.
He emphasized the urgent need to industrialize the sector by fully deregulating the power industry and ensuring that all transmission and power project materials are locally sourced.
“The use of obsolete wires and cables must be eliminated. Nigeria has more than enough capacity to meet and exceed its power sector needs if we focus on local production,” Onafowokan stated.
Commending the President Bola Tinubu-led administration for refocusing attention on the sector, he noted that Nigeria’s power challenges are deeply rooted and require long-term strategic solutions.
“These challenges have persisted for years, and I sympathize with this government because they inherited them. Solving electricity issues is not an overnight task. Grid collapses and insufficient power supply result from an imbalance between power generation and transmission,” he explained.
Onafowokan warned that budgetary allocations alone would not solve the sector’s crisis unless backed by effective policy implementation and continuity in addressing systemic problems.
“The billions allocated to the sector will not make a difference without proper execution of policies. We need consistency and long-term commitment,” he added.
His call reinforces growing concerns among stakeholders that without strategic local input and regulatory reforms, Nigeria’s power sector may continue to struggle despite increased investments.
