Cummins West Africa Limited, a diesel and natural gas engine manufacturer, has put the worth of power market in Nigeria at $400 million (about N144 billion).
The Director of Cummins West Africa, Kwame Gyan-Tawiah, disclosed this during a press briefing in Lagos to commemorate the company’s 100-year anniversary.
Responding to a question on the size of the Nigerian power market, Tawiah, said, “If you we combine the rest of Africa, the power needs may not compare to Nigeria. Nigeria has got over $400m worth of power market, and that is huge even as compared to the rest of the world.”
The Managing Director of Cummins West Africa, Ade Obatoyinbo, said, “The places in the world where we make the most money have 100 per cent power. The exact same engine in our generator is in a truck somewhere. It is in a boat and in a fire pump somewhere, we have no issues.
“The government has put together a strategy to use more gas to fire more central power stations. The recent one I am aware of is Azura, which is a 450MW combined circle power plant in Edo State.
Obatoyinbo further disclosed that the company had expended $350,000 (N126m) on community empowerment across the country.