Vice President Yemi Osinbajo has commissioned the Afam3 Fast Power 240-megawatt (MW) turbine in Rivers State.
The project, which is expected to boost power generation and supply in Nigeria by adding 966 megawatts of electricity to the country’s national grid, was executed in collaboration with General Electric and the Federal Government.
The Afam3 project is a subsidiary of the Transcorp Group located in Oyigbo, on the outskirts of Port Harcourt in the state.
Osinbajo, who arrived at the venue of the commissioning a few minutes before 12 noon, was received by the Chairman of Transcorp Group, Tony Elumelu, and other dignitaries.
Osinbajo said, “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.”