Nigeria can Achieve 7% GDP With sufficient Electricity – Siemens

Nigeria can Achieve 7% GDP With sufficient Electricity – Siemens

Siemens Nigeria’s Chief Executive Officer, Onyeche Tifase has said that Nigeria has the potential to achieve 7.0 percent gross domestic product (GDP), growth rate and lift 70 million people above poverty provided there is sufficient access to electricity across the country, Vanguard reports.

Tifase cited deployment of smart metering technology and sophisticated tracking systems to pinpoint illegal connections, as well as increased collaboration between power sector operators and trusted global suppliers, as factors that will determine the achievement of sufficient access to electricity for all Nigerians.

She noted that though 60 per cent of Nigeria’s 182 million population have access to electricity, majority of the power is generated by an ageing and inefficient grid that loses 8.6 gigawatts (GW), which represent 69 per cent of the country’s 12.5 GW installed capacity.

She said investment in proven end-to-end electrification technology will directly tackle the scourge of unemployment, poverty and inequality, creating an inclusive and prosperous Nigeria. “To make electricity more easily accessible to the whole population, power generation capacity must be ramped up and streamlined,” she added.

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