Nigeria Should Prioritise Energy Sufficiency Over Transition, Says Transcorp Energy MD, Ezeafulukwe
The Managing Director/Chief Executive Officer of Transcorp Energy Limited, the integrated energy development and services subsidiary of Transnational Corporation Plc, Chris Ezeafulukwe, has said that Nigeria’s immediate priority should be energy sufficiency rather than energy transition, calling for the deliberate and coordinated development of all the country’s energy resources to close its persistent power deficit.
Mr Ezeafulukwe made the remarks as a panellist at Solar & Storage Live Nigeria 2026, West Africa’s leading solar and energy storage exhibition, held at the Landmark Centre, Lagos. He spoke during a session themed “Who Will Power Nigeria Next? Utility Partnerships, Private Power & MiniGrids,” which convened utilities, independent power producers, developers and regulators to examine the future of electricity supply in Nigeria.
Reframing the global conversation around energy transition, Mr. Ezeafulukwe explained that Transcorp Group approaches the subject through the lens of sufficiency. “In Transcorp Group, we replace the word ‘transition’ with ‘sufficiency.’ Nigeria is working towards energy sufficiency, not transition. At the stage where we are, we need a combination of the different sources of energy that we have in Nigeria, so that when we attain sufficiency, we can begin to talk about transition in the same way that the West is,” he said.
He described the current momentum in the sector as market-led, noting that reforms anchored by the Electricity Act are now being reinforced by real demand. “I love what is happening in the space now, because we are going beyond regulation as the market is being driven by the market. Nature abhors a vacuum. The Electricity Act laid the foundation, but the market is demanding, urgently, that renewable energy takes its pride of place in Nigeria’s electricity market, and utilities are opening and engaging more.
I dare tell you that they are doing that right now,” he stated. Pointing to Transcorp Energy’s own portfolio as evidence of this approach in action, he added: “This is why Transcorp Energy is focusing on renewables. We have a partnership with the Rural Electrification Agency and sites in the Federal Capital Territory for a 30MW interconnected mini grid that we are currently delivering, with more projects in the pipeline. Even as we develop the renewable energy business, we maintain our investments in gas-powered generation and in the distribution utilities, to ensure that Nigeria attains energy sufficiency.”
Drawing on lessons from the sector’s recent history, Mr. Ezeafulukwe stressed the need for balanced development across the entire electricity value chain. “There is a combination of actions that need to be taken at each sub-segment of the power sector to deliver the progress we want. Part of the mistakes made previously was that generators were given a target on the capacity they had to develop, but transmission was not given a target, and the distributors were not given targets for development. It got to a point where generators had capacity that could not be evacuated. We need to correct that with policies that ensure proportionate development across the different sides,” he advised. On the perennial debate about the enabling environment, Mr Ezeafulukwe urged operators and policymakers to prioritise commitment over the pursuit of perfect conditions.
“There is never a perfect policy environment at any point in time. In my experience in the power sector, it is more about how determined and how committed we are to achieve the objectives we have set. When you are committed, and there are policy gaps, you approach them in good faith, and then you can achieve sustainable results,” he concluded.
The session was moderated by Collins Teke, Clean Energy Advisor and Journalist at Black Voice Media (BVM). Other panellists included Damilola Asaleye, Chief Operating Officer and Co-founder of Ashdam Solar Company; Oluwole Eweje, Founder and Managing Director of WATT Renewable; and Ademola Ogunbanjo, President and Chief Executive Officer of Oando Clean Energy. Transcorp Energy’s participation reinforces Transcorp Group’s integrated energy strategy, which spans renewable energy development, gas-fired power generation and electricity distribution, working together to move Nigeria closer to energy sufficiency and, ultimately, a sustainable energy future.