Seyi Fabode Fashola Monday 27th June 2016 x Global best solutions to Nigeria’s power problem
Jun 27 2016 – 2:16pm
A power utility expert, Seyi Fabode, has recommended
international best solutions to the power problem confronting Nigeria.
In other words, he
argued that if we agree with the
premise that all consumers, regardless of class, deserve to have stable, affordable and
secure electricity, then it’s time to
embrace the change currently going on in the electricity
In his words: “There is a chance to start afresh in Nigeria, as the way electricity is generated, produced, stored and marketed
is changing. There is a wider array of choices for generation (solar, geothermal, wind etc), there are storage options which serve the needs of average
Nigerian homes at less cost than the current diesel alternatives, and smaller companies can get into the business of producing electricity for different segments of the market.
“The change we have to embrace in Nigeria, with an opportunity to even leapfrog countries like the USA in adoption, is inevitable and is as a result of several global trends that are currently playing out.
These trends are climate change, reducing costs of
renewables like solar, the convergence of internet technology and operational
technology, bringing more efficient methods of electricity
consumption to consumers and
What does this look like for the average
Seyi Fabode who hails from Ekiti,
has worked in every segment of the power industry from power plant operations and distribution
(Barking Power Station a 1000MW Gas plant that supplied 400k homes in London), trading
(Energyquote, a wholesale power
brokerage firm acquired by Accenture), investments and
(Power2Switch in the US, serving ~40k customers with energy purchasing and management,
and on the board of two energy technology companies) for more
than 14 years.
He obtained an MBA, University of Chicago Booth School of
Business; MSc Manufacturing
Systems Engineering, Warwick University and BEng Metallurgical
and Materials Engineering.
Federal University of Technology