Tony Elumelu Raises Alarm Over Nigeria’s Power Crisis: "7,000MW Can't Power 200 Million People"

Nigerian billionaire and philanthropist, Tony Elumelu, has once again drawn attention to Nigeria’s deepening power crisis, calling it one of the biggest obstacles to the country’s economic growth and development.

Speaking at the African Caucus Meeting held in Bangui, Central African Republic, Elumelu expressed concern over Nigeria generating less than 7,000 megawatts of electricity for a population of over 200 million people.

"How can we grow the economy, create jobs, or industrialize with less than 7,000MW of electricity for over 200 million people?" he asked.

Elumelu, the founder of the Tony Elumelu Foundation and chairman of Heirs Holdings, said the situation is unacceptable for a country with enormous potential and abundant natural resources. He urged immediate and strategic action to scale up power generation and access.

Electricity is a backbone of modern economies. In Nigeria, power outages are frequent, and many homes and businesses rely on expensive generators. According to Elumelu, this lack of stable electricity:

Hurts small and medium businesses

Pushes up the cost of living

Drives away local and foreign investors

Stifles innovation, especially among the youth

Elumelu proposed a clear roadmap:

Massive investment in energy infrastructure

Support for private-sector solutions

Use of natural gas as a transition fuel to support renewable energy development

Policy reforms that attract and protect investors

He also emphasized the need for Africans to take ownership of the continent’s development, insisting that no one will fix Africa’s problems better than Africans themselves.

🧒 Youth & Economic Potential

Elumelu didn’t just stop at the power sector — he also stressed the importance of youth empowerment. Through his foundation, over 24,000 entrepreneurs across Africa have received seed funding and training, resulting in the creation of over 1.2 million jobs.

He warned that unless urgent steps are taken to unlock opportunities for young people, the continent risks wasting its most valuable resource — its youth.