Energy crisis has never been worse in Nigeria than now. power stations are comatose, the government is reversing itself in all possible directions and no one knows what is going to happen the next minute.
Earlier in the administration of Bola Tinubu of Lagos State, he pioneered the concept of independent power stations but because these depended on gas from NNPC, it was easy for the laudable project to get sabotaged by the Obasanjo lead government. Also, other power stations built by the Federal Government have met tragic fates from gas supplies.
However, hope is around the corner. Recent technological advances in wind powered turbines have made the cost of construction of such wind farms comparable to what it cost to build a similar gas powered station. A recent survey by Business Week magazines puts the cost of a 150MW at roughly $225 million. So it means if the Lagos State Government could raise $675 million, say from the capital market, it would be able to build a 450MW power station to run the state, free from the shackles of NNPC.
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