Of the quantity generated, 4,008.53mw were sent out to meet demand while the balance was conserved to achieve system stability.

The PTFP and other analysts expressed optimism that power supply will likely continue to improve in the coming months because of expected increase in gas supply.

Already, the Nigerian National Petroleum Corporation, NNPC has declared plans to supply commercial gas for power generation.

Some investors, including Mr. Tony Elumelu have also expressed commitment to invest more resources in the sector.

He said the present administration made a bold decision when it decided to affect the changes envisaged by the Power Sector Reform Act — legislation that had been on the books since 2005.

Elumelu said that bold step was reinforced during President Barack Obama’s last visit to Africa. We felt more strong ly than ever, the need to help power Africa.

“Our experience so far at Ughelli power plant is testimony to the size of the opportunity; our amazing team has taken that plant from 150mw capacity when we took over in November 2013, to 450mw today; we expect it to increase 700mw by October and to achieve 1000mw by the second quarter of 2015. At that rate, we’ll be contributing 20 per cent of Nigeria’s total power generation. To push the possibilities further, we are working on a greenfield project that will expand the capacity of Ughelli by an additional 1000mw in the next 3 to 5 years and we’ve signed an MOU with GE and Symbion Power to facilitate this.”

“I must add, however, that gas is an integral part of power generation and we are pleased that our oil assets in the Niger Delta will eventually produce gas to meet our gas needs at Ughelli. At current production projections, by the end of 2015, 150 mmscf per day will be produced and that will meet about 40 percent of the gas demands for Ughelli.”