The 240 megawatt Afam 3 Fast Power turbine has been unveiled in Rivers State by Vice President Prof. Yemi Osinbajo.
The project is a division of the Transcorp Group, which has offices in Oyigbo, a town outside of Port Harcourt.
Osinbajo, who arrived at the location in a helicopter at precisely 11:35 a.m., was led inside and welcomed by Tony Elumelu, Chairman of Transcorp Group, and other dignitaries.
In his address, 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.”
