Vincent Ozoude runs Transafam Power Limited under Transcorp Group and says Nigeria's power companies are getting wrecked by funding problems and bad infrastructure. The generation firms only collect about 27 to 30 percent of what they bill the market, though President Bola Tinubu is working on clearing out a legacy debt pile worth N4 trillion. Wild foreign exchange swings make it impossible to buy spare parts or keep turbines maintained on schedule, and gas supply issues keep hitting thermal plants even though Nigeria has massive natural gas reserves.
Transafam moved some trailer-mounted turbines over to a sister plant that has better gas access while waiting for the situation to improve at their main Afam location. The company brought a 240-megawatt plant online and locked in a 20-year power purchase deal with the federal government for 726 megawatts of capacity. They pushed 348 megawatts as of the report and want to hit 378 by year's end.
The company also ran a health program for elderly residents in Okoloma-Afam, handing out blood pressure monitors and three-month vitamin supplies along with food and household stuff.
Transafam moved some trailer-mounted turbines over to a sister plant that has better gas access while waiting for the situation to improve at their main Afam location. The company brought a 240-megawatt plant online and locked in a 20-year power purchase deal with the federal government for 726 megawatts of capacity. They pushed 348 megawatts as of the report and want to hit 378 by year's end.
The company also ran a health program for elderly residents in Okoloma-Afam, handing out blood pressure monitors and three-month vitamin supplies along with food and household stuff.
