• State to establish electricity regulatory commission, rural electrification agency
• Transcorp, Manitoba, InfraCredit, CNG initiative pledge investments in power infrastructure
Sunday Ehigiator
Delta State has unveiled roadmap to unlock its nearly 3,000 megawatts of installed electricity generation capacity, with plans to establish a state electricity regulatory commission and a rural electrification agency as part of efforts to deepen private sector investment in the power sector.
The roadmap was unveiled yesterday at the Delta State Economic and Investment Summit in Asaba, where key stakeholders in the energy sector, including Transcorp Power, Manitoba Power, Infrastructure Credit Guarantee Company (InfraCredit), and the Presidential Initiative on Compressed Natural Gas (CNG) and Electric Vehicles, pledged investments to strengthen the state’s electricity market.
Speaking at the summit, the Consultant to the Delta State Government on Electricity Market Development, Mrs. Uche Okafor, said the Delta State Electricity Sector Law had laid the legal foundation for a competitive electricity market capable of attracting private investment.
She disclosed that the immediate priority after the summit would be the establishment of the Delta State Electricity Regulatory Commission and the Delta State Rural Electrification Agency.
According to her, the commission would ensure investor confidence by guaranteeing returns on investments while protecting consumers from exploitation.
“The Delta State Electricity Sector Law provides the platform to build an electricity market that serves industries, investors and consumers. One of the immediate steps after this summit is the establishment of the Delta State Electricity Regulatory Commission and the Delta State Rural Electrification Agency.
“The government is ready. It has been ready since 2024 when it passed the Electricity Sector Law. We can now move forward to establish the institutions that will drive investments across the electricity value chain.”
Chief Executive Officer of Transcorp Power Ughelli, Mr. Peter Ikenga, described Delta as uniquely positioned to become Nigeria’s energy hub, citing its abundant gas reserves and nearly 3,000MW of installed generation capacity.
He noted that the remaining challenges were investments in gas feedstock, transmission expansion and stronger distribution networks.
“Transcorp is ready to collaborate with the Delta State Government from gas production to generation, transmission and distribution. Delta State can become the number one economic engine in Nigeria and indeed West Africa,” he said.
Also speaking, Emmanuel Jakpa of Manitoba Power said electricity generation was no longer the country’s major challenge, stressing that distribution bottlenecks had left significant power stranded.
“There is over 3,000 megawatts of installed capacity, but there is stranded power because of bottlenecks in distribution. Delta has already created the legal framework for private investment and we are prepared to invest aggressively to close that gap,” he said.
For PowerGas Nigeria, Mr. Sumeet Singh, said the company’s decade-long operations in Delta had demonstrated the reliability of gas in sustaining industrial production.
He disclosed that more than 20 factories in the state currently rely on the company’s gas supply to generate electricity independently of the national grid.
Representing the Presidential Initiative on Compressed Natural Gas and Electric Vehicles, Engineer Tari Mayo Bright, revealed that discussions had begun with the Delta State Government to establish CNG refuelling stations, electric vehicle charging hubs, conversion centres and training institutes.
She said Governor Sheriff Oborevwori had directed immediate implementation of the initiative, noting that Delta’s challenge was not gas availability but infrastructure integration.
InfraCredit Executive Director, Mr. Daniel Muller, assured investors that adequate long-term financing was available for viable infrastructure projects.
He said Nigeria’s pension industry, with assets exceeding N31 trillion, was well-positioned to fund bankable investments in gas infrastructure, electricity distribution and industrial energy projects.
Meanwhile, Managing Director of the Niger Delta Development Commission (NDDC), Dr. Samuel Ogbuku, urged both local and international investors to take advantage of the improved security and investment climate across the Niger Delta.
According to him, the Renewed Hope Agenda of President Bola Tinubu’s administration had transformed the region into a peaceful and attractive investment destination.
Vice President Kashim Shettima, who addressed the summit, said Nigeria’s economic outlook had improved significantly under the current administration, citing an increase in the country’s foreign reserves from about $3 billion to $52 billion.
He described Delta as one of Nigeria’s most promising investment destinations, urging stakeholders to harness the state’s vast economic potential.
Governor Oborevwori assured prospective investors that Delta remained safe for business, stressing that his administration had maintained fiscal discipline while executing major infrastructure projects without borrowing from commercial banks.
He said the state was determined to diversify its economy beyond oil through strategic investments and prudent financial management.
Delivering the keynote address, Director-General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala, said Delta had the potential to become Nigeria’s fourth industrial hub if it successfully harnessed its human capital and growing digital infrastructure.
She urged the state government to prioritise execution, maintenance culture, digital infrastructure, improved ports and private sector participation to drive sustainable economic growth.