Omogiafo made this statement during an interview with Arise News at the Future Investment Initiative conference held in Saudi Arabia.
She also mentioned that the company has entered into a memorandum of understanding with the Rural Electrification Agency to enhance power generation through renewable sources.
“We are working assiduously to ensure that we are closing the energy gap. One of the things you expect to see for Transcorp Group is our focus on increasing energy availability through investment and partnerships in renewable energy. Just last week, we signed with the Rural Education Agency of Nigeria, an MoU that will see us bring 150 megawatts of additional capacity into the Nigerian energy sector,” she said.
The Chief Generation and Executive Officer expressed regret over the severe gas shortage that the company is currently experiencing, which is preventing it from operating at full capacity.
According to Omogiafo, the Afam power plant located in Rivers State has the potential to generate 301MW, however, it is currently only able to supply 100MW.
“Nigeria has an installed capacity of about 13,000 megawatts, but we are only doing about 5,000 megawatts. If I look at one of my power plants, which is the Afam power plant in Rivers State, I have today an available capacity ready to generate 301 megawatts. But it will interest you to know that I’m only doing 100 megawatts. Why? Gas shortage.
“If we had a very strong integrated gas-to-power strategy, it would resolve the gap that we have in our country, and if we take that across Africa, we are going to liberate and unlock the value that we see within our blessed continent. Then we will be right up there,” she maintained.