Nigeria's Power Sector: Unlocking 300MW Potential by 2025

Nigeria possesses extraordinary power generation potential, including 14,000 megawatts of hydropower and 210 trillion cubic feet of proven natural gas. Transcorp Group acquired the Afam Genco assets in 2021, where the plant operated at roughly 48 megawatts against an installed capacity of 966 megawatts.

The company aims to achieve nearly 300 megawatts of generation by 2025 through disciplined ownership and investment. Transafam Power, a subsidiary, has been rehabilitating the plant and commissioning new fast power aeroderivative plants.

The company operates with a workforce entirely composed of Nigerians and accounts for about 20% of Nigeria's installed thermal generation capacity. The Nigerian government is also focusing on domestic gas development to strengthen the gas value chain and release significant latent capacity.

Recent measures by the federal government, including a presidential power debt program, aim to clear long-standing obligations to generation companies, facilitating further investment in the sector.