• Sunday, June 16, 2024
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Nestoil boss advocates PPP in Africa’s quest for efficient energy supply


The group managing director of Obijackson Group, which also has Nestoil as its subsidiary, Azudialu-Obiejesi, has cited political risk, difficulties posed by legal requirements for disposition of land by the Land Use Act, inefficiencies in government agencies and the high threat to and cost of doing business, as some of the factors frustrating ease of doing business in Africa.
He urged stakeholders both in government and corporate organisations to always work towards enhancing smooth business operation in Africa as that is the only way to resolve some of the critical issues of economic growth facing the continent.

“What should be paramount among stakeholders should how we can ensure funding in a hospitable environment and how can we align the private and government responsibility to efficiently power Africa”.

He said power related issue are very germane to the socio – economic development of the continent and all hands should be on deck to ensure steady power supply in most parts of the continent as soon as possible.

Azudialu-Obiejesi who spoke at Powering Africa panel organised by the London School of Economics African Summit said what is important today in Africa is how to resolve the energy challenges Africa is facing specifically how to create an efficient and sustainable power supply in Africa as the rest of the world turns to greener energy sources.

The Nestoil boss also emphasised the need to considered building infrastructure in the energy sector in order to boost economic growth and the role of government in future of the industry.

He commended the panellists for hinging their conversation around the issue of passing over traditional, carbon-based energy sources in favour of greener energy.

He challenged the rhetoric that African needs to go green now even though all realistic indications pointed that the continent is not ready. He reminded the audience of the link between access to electricity and development on the continent that made it a top and urgent priority.

Accordeing to him, while the West had used carbon based energy to develop its infrastructure, Africa has to also go through the trajectory and learn from the challenges they had faced.

“Unfortunately, the abundance of already available resources make carbon-based energy resources the short-term project, while the financial and technical constraints to developing renewable energy sources make it a long-term mission”.

He instead refocused the discussion, asking how we can ensure funding in a hospitable environment and how can we align the private and government responsibility to efficiently power Africa.

The conference considered Africa in a global context and opened a lively discourse on how to create and nurture future African business leaders with a global focus. The discussion aimed to troubleshoot the obstacles to growth across the African energy, finance, technology and telecommunications industries, and of course the ever-pressing issue of human capital

Azudialu-Obiejesi, who shared his over twenty years experience in the energy sector and specifically his role as Director of Century Power- a subsidiary of The Obijackson Group- that is looking to add 50 MW (Megatts) of power to the national grid. He gave rare insight to the hurdles in powering Africa, especially with delivering projects on time.


Olusola Bello