The Chairman of the Transcorp Group, Tony Elumelu, and other dignitaries received the Vice President, Prof. Yemi Osinbajo, as he arrived at the Afam 3 Fast Power 240-megawatt turbine project site in Rivers State.
The project is located in Oyigbo, a suburb of Port Harcourt, and is a subsidiary of the Transcorp Group. Osinbajo arrived at the venue by helicopter at approximately 11:30 am.
Osinbajo while addressing the public, noted that, “In 2020, electricity subsidies reached N584 billion, but service-based tariffs have led to a doubling of collection in the Nigeria Electricity Supply Industry from N40 billion in 2020 to N80 billion in the first quarter of 2023.
“If this trajectory continues, the Nigeria Electricity Supply Industry will be able to pay for itself. Our administration has also created programs for off-grid for electrification. Rural Electrification Agency now has the capacity to provide electricity supply on a first-class basis.
“We are on track to electrify all Nigerians in the next decade. However, we will not make progress if our gas supply does not improve. The gas supply challenges are hampering improvements.”
