The Chairman of Egbin Power Plc, Kola Adesina, has called on regulatory authorities in the power sectors across Africa to provide the guidance and requisite expertise to enhance economic growth and development across the continent.
Adesina was quoted in a statement as saying the power sector regulatory environment in Africa needed to be tweaked to integrate cross-border collaboration, forward-looking policies and cooperation between the public and private sectors to meet the huge power demand on the continent.
“We need our regulators to seek avenues for collaboration across the regions to drive regional and global financial support, policy integration, infrastructure upgrades and human capital development. We need that synergy between policy and regulation to stimulate investments and expansion that will ultimately lead to sustainable power supply,” he said.
According to the statement, the Adesina-led board of Egbin Power plans to raise the plant’s installed capacity to 5,000 megawatts within the next five years from 1,320MW.
Commenting on the Nigerian power sector, Adesina said, “The government, through its agencies and regulation bodies, should be committed to face the critical parameters involving monetary policies on interest rates on loans, exchange rate and inflation rate.”
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