Rewane Forecasts $357 Billion GDP Surge with Nigeria's Power Sector Upgrade

Bismarck Rewane, the Managing Director of Financial Derivatives Company Limited, highlighted the potential economic impact of Nigeria's power sector improvements. Rewane emphasized that Nigeria's GDP could reach $357 billion if electricity supply increased from 4,500MW to 8,000MW.

He noted the country's historical underinvestment in the power sector, despite its crucial role in economic growth. Rewane urged for significant investments to address the power supply challenges, citing the potential for a substantial rise in GDP with improved electricity generation.

The discussion at the Lagos Business School underscored the importance of resolving Nigeria's power sector issues to unlock economic growth and productivity.