Federal Government has said that not less than $484.62 billion investment would be required to meet the nation's energy demand projections of 297,900 megawatts (mw) by 2030 when the nation's gross domestic project (GDP) is projected grow at about 13 percent.

Director General, Energy Commission of Nigeria (ECN), Abubakar Sambo, stated this in Abuja at the national workshop and exhibition on "Participation of State Governments in the Power Sector: Matching Supply with Demand."

The workshop was jointly organised by the Nigerian Electricity Regulatory Commission (NERC) and ECN.

Sambo explained that a study carried out to meet the nation's electricity demand revealed that "for the 13 percent GDP growth rate the demand projection rose from 5,746mw in the base year of 2005 to 297,900 in the year 2030, which translates to construction of 11,686mw every year, to meet the demand."

The DG pointed out that "in concluding the studies, all the available energy resources in the country were considered in order to broaden the nation's energy supply mix and enhance its energy security," stressing the need for states governments, private sector and foreign investors to get involved in the investment as federal government alone cannot provide this level of funding.

Sambo explained that the main objective of the workshop/exhibition was to present the electricity demand and supply projections as well as examine how state governments could participate in the realisation of the power supply requirements for the socio-economic development targets of the Federal Government.

In her keynote address, Minister of State for Energy (Power), Fatima Balaraba Ibrahim, expressed dismay that the 14 generating plants in the country were producing only 2,400 mega watts of electricity, instead of 7,500mw.

She stressed that this was due largely to lack of rehabilitation of the generating plants, adding that of the 101 power units, only 50 were functional, as others have remained non-functional fro a long time.

The Minister, who was represented by Permanent Secretary in the Ministry, Abdullahi Aliyu, said Nigeria requires about N20 billion to fix all the power turbines in the country's power stations.

She also noted that only three hydro power plants were working, among the 14 the country has, pointing out that due to water shortages they have been working at 30 percent instead of at least 80 percent.

Earlier, in his welcome address, chairman of NERC, Dr. Ransome Owan, stated that both organisations would continue to support the sector reform programme to ensure that the mandate of availability, adequate, reliable, safe and affordable power to Nigerians is met.