This year, Nigeria’s GDP in Q2 2022 was counted at N45 trillion with a growth rate of 3.54%, a consumer market consisting of over 211 million citizens and a large room for growth in almost every sector. As with most developing countries, foreign investors are quick to see their rapid growth and vast investment opportunities, due to this, Nigeria is ranked 42 in the world when it comes to stock of foreign direct investment with 118,000 million of USD. One of these sectors in Nigeria is its electricity and power sector.
SLASH Energy Nigeria is a limited liability company which aims to take advantage of Nigeria’s crippled energy sector. According to the CEO of SLASH Energy Nigeria, Mr Adam Lamido Sanusi, “SLASH was created with the hopes and ambition to help the millions of people in Nigeria in need of stable, secure electricity. We aim to provide electricity to everyone in Nigeria that is not only safe for the people but also the planet.” The company aspires to be primarily Northern Nigeria’s largest electricity provider before expanding to the south, this initiative brought about by the CEO and Co- CEO’s passion for renewable energy and philanthropy.
Even though Nigeria is almost four times the size of The United Kingdom, The UK produces more than ten times electricity. This is largely due to lack of technology, theft, and negligence of clients. Currently, Nigeria has the capacity to generate 13,000 megawatts (MW) of electricity, yet only 3,400 MW reliably reaches consumers. Siemens is a German company currently working with Nigerian companies to increase supply to consumers. Their roadmap shows phase one increases the system’s end-to-end operational capacity to 7,000 MW, phase 2 11,000 and phase 3 develops the system up to 25,000 MW and as Nigeria’s generation capacity is 13,000 MW, this leaves an enormous 12,000 MW of untapped potential.
Solar energy is also a booming industry in Nigeria. With the ever-present Nigerian sun, government facilities such as REAN and NEP have been created to motivate people into entering the solar sector by providing grants. Lagos is building a solar city and most large industries commission companies to install solar panels to their facilities, for example, one of SLASH’s directors was commissioned by BAZE University Abuja to supply over 5 MW to their buildings. This growing demand in solar energy has led to the creation of hundreds of companies, some focused-on homes, some factory buildings, streetlights etc.
SLASH energy’s base of operations is in Kaduna State. Through supplying power to Kaduna Electric and feeding the remains back to the grid, they aim to steadily grow expanding first into Kano state then Nasarawa to secure themselves as the largest power provider in Northern Nigeria. Furthermore, SLASH intends to expand their supply to all distribution companies initially in the north. as carbon emissions and global warming continues to be an ever-alarming topic, they aim to be prepared for when the Nigerian Government follows suit and invests more in the renewable energy sector.
SLASH also aims to work with foreign investors willing to make a long-term investment in Nigeria, they boast one of the largest networks consisting of multiple well-known politicians, businessmen and professionals in the industry, and have made their dealings with Kaduna state known to their potential partners. Some of these key individuals include Mallam Nasir El-Rufai: Governor of Kaduna State, Mr Khalil Nur Khalil: executive secretary of Kaduna Investment Promotion Agency, His Highness Muhammad Sanusi II: 14th Emir of Kano and former CBN governor, Hajiya Bola Shagaya: Businesswoman, the network, and services of 1634 Energy Limited and Tiger solar, and the list goes on.
SLASH’s CEO’s have also drafted a plan to create charities around the country to help impoverished Nigerians by providing food and safe drinking water to them. Once their ambitions have been met, the CEO’s have shown interest in working with The Federal Republic of Nigeria to provide free electricity to those in the country who cannot aﬀord it in their ‘Electrification Roadmap’. They claim their plan could create millions of jobs, increase standard of living and life expectancy, SLASH aims to complete all expansion within the first 7 years of getting a reliable foreign investor.
“The constant power cuts that have been integrated into the Nigerian way of life have been detrimental to multiple start up businesses, hospitals, industries and even the Nigerian standard of living. If we do not act, we will be burdening our children with heavy tasks. By providing the people what they need they themselves will fix the economy, they themselves will open bigger doors in the future.” Adam L Sanusi.