Elumelu: Improved Power Supply Will Lift Nigerians Out of Poverty

Chairman of the Heirs Holdings, Tony Elumelu

The Chairman of Transcorp and Founder of the Tony Elumelu Foundation (TEF), Mr. Tony Elumelu, has stressed that improving access to electricity remains the single most critical factor for lifting a lot of Nigerians out of poverty and job creation for the teeming youth.

He said this during the announcement of Transcorp Consortium’s 100 per cent acquisition of the 966MW installed capacity Afam Power Plc and Afam Three Fast Power Limited, at an acquisition cost of N105.3 billion.

According to Elumelu, who is also the Chairman of the United Bank for Africa Group, bringing affordable, dependable power to the Nigerian people is core to Transcorp’s mission.

“Our significant investments in the power sector are demonstrations of our contribution to the economic transformation that I know Nigeria is capable of. Power remains the single most critical factor for lifting our people out of poverty and job creation for our teaming youth.

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