EDS, a Ukrainian business, has developed plans to invest in Nigeria’s energy industry by producing additional megawatts, which is expected to stimulate the country’s energy supply.

The director of EDS, Zapyshynyi Olexandr, made this statement during a conference on Monday in Abuja. He also claimed that the company will provide funds and expertise to enhance Nigeria’s power infrastructure across a range of industries, particularly in the states.

Olexandr claims that the project will integrate solar, wind, and hydro energy sources. It will begin in the Federal Capital Territory (FCT), Lagos, and then spread to other states.

“We are looking at mini-grids because we realised that that is where the energy problem is in Nigeria”

“How successful the first project is will determine how much investment we will bring in,” Olexandr noted.

Ben Gbade Ojo, President of the Ukraine-Nigeria Business Council, also spoke at the press conference. He said, “Today, we are pleased to present to Nigerians the EDS Ukraine Power and Engineering, a Ukrainian company that has all the necessary skills to turn around Nigeria’s electric power fortunes and help Nigeria become a power-efficient nation.

“We welcome the EDS to Nigeria and urge all Nigerians to take advantage of their immense capabilities for sustainable power sector efficiency in Nigeria.”

In order to maximize the potential in the Nigerian power industry in collaboration with the people of the Republic of Ukraine, he made the point that it is essential for the government and Nigerians to take advantage of the vast prospects that exist.

He claims that the private sector can now participate in the electricity supply chain at all levels thanks to the Nigerian Electricity Act of 2023, which was signed into law by former President Muhammadu Buhari in March 2023, and the Amended Act, which was signed into law this year by President Bola Tinubu.

Nigerians can now take part in the energy supply industry, which was formerly the sole domain of the federal government and was overseen by the sector regulator, the Nigerian energy Regulatory Commission (NERC), as per the new law.

According to the 2023 power Act, anyone can build, own, or run a company that produces more than one megawatt of power total at a location.

Ojo went on to say that the Ukrainian-Nigerian Business Council was fully organized to help the federal, state, and all stakeholders in the electric power sector and players profit from the new Electricity Power Act.