The Managing Director of Ibadan Electricity Distribution Company (IBEDC), Mr Francis Agoha, has said that the 400 megawatts from the national grid represents barely 20 per cent of what is actually adequate to service the country.
Agoha said this on Wednesday while delivering a keynote address at the 8th edition of the “Engr. Ifedayo Akintunde Annual Lecture” organised by the Nigerian Society of Engineers (NSE), Oluyole branch, and the Abiola Ajimobi Technical University, Ibadan.
The topic of the 8th Engr. Ifedayo Akintunde Annual lecture was : Empowering Africa’ Energy Transition”.
He disclosed that the IBEDC franchise area has an estimated aggregate demand of over 2,000 megawatts, driven by a population of over 10 million people, multiple industrial clusters, commercial centers, and a rapidly growing SME sector.
Agoha said that the persistent gap of over 1,600 megawatts highlights a significant untapped market for innovative third-party solutions, from embedded generation to mini-grids, captive power partnerships, and hybrid energy models.
According to him, the deficit represents not just a shortfall, but also an open invitation for partnerships that can unlock economic growth, enhance reliability, and expand access to affordable electricity across the IBEDC franchise.
“We must acknowledge a sobering reality that millions of Nigerians remain without reliable electricity access.
“Reaching these communities requires intentional investments and local partnerships that deliver sustainable energy where it is most needed.
“In pursuit of this, we’ve intensified our distributed energy efforts, collaborating with credible vendors on embedded generation and mini-grid projects to accelerate impact.
“To fully appreciate the scale of the challenge and the opportunity, we must confront the stark realities of supply and demand within IBEDC’s network, “he said.
The IBEDC boss further stated that part of key challenges facing energy access in Nigeria included non-cost-reflective tariffs, which limit revenue recovery, macroeconomic instability, community resistance, funding, and regulatory bottlenecks among others.
He reiterated IBEDC commitment towards expanding energy access through Mini-Grids and Embedded Generation.
“I am pleased to share that projects totaling over 200MW are either being negotiated, receiving regulatory approvals and are under construction across our franchise states.
“We have 50MW in Oyo State, 150MW in Ogun and 8MW in Kwara state. Further engagements are ongoing with third-party providers to add another 183.7MW of capacity to the grid, including 17.7MW under the REA’s DARES initiative.
“These projects, all within the IBEDC franchise area, are at various stages of development and reflect our deep commitment to energy inclusion and solar-driven electrification, “he said.
Also, the Vice-Chancellor of Abiola Ajimobi Technical University, Prof. Adesola Ajayi reiterated the need for Nigeria to make a bold shift from fossil fuels to renewable energy due to its affordability and environmental sustainability.
Represented by the Dean Environmental Sciences, Prof. Stephen Ojo, the VC noted that the partnership between the institution and the professional body had benefited the students in numerous ways such as industrial training placements.
Earlier, the President of Nigerian Society of Engineers, Mrs Margaret Oguntala, urged fellows and elders of the profession to take special interest in mentorship of young and students members.
“I encourage all to mentor these young engineers, guiding them to reach their full potential,” she said.
In his remarks, the celebrant, Mr Ifedayo Akintunde, expressed his gratitude to the NSE, Oluyole branch, for choosing him among many deserving Nigerians for the honour.
He noted that the standard of the lectures since its inception have been exemplary, resulting in recommendations, which if implemented would greatly enhance the economic, industrial and life expectations of the country.
