Sahara Power Group has announced plans to increase electricity generation to between 6,500 and 7,000 megawatts over the next three to five years, following Federal Government reforms and initiatives to address legacy debts in Nigeria’s power sector.
Group Managing Director Kola Adesina said the company intends to invest heavily in both gas and renewable energy projects while launching a data center to enhance operational efficiency and support expansion.
Adesina highlighted that Sahara Power has repaid $438 million, approximately 73 per cent of its $600 million loan obligations, crediting government programs aimed at settling legacy debts as a key factor easing pressures on power companies and attracting fresh investment.
“Policy improvements, including stable exchange rates, moderated inflation, and reasonable interest rates, have allowed operators to plan with greater certainty,” Adesina said.
Sahara Power currently accounts for about 19 per cent of Nigeria’s total electricity generation, with subsidiaries including Egbin Power Plc, First Independent Power Limited, and Ikeja Electric. The company has also played a significant role in deploying over 2.3 million meters under the National Mass Metering Programme, according to the Nigerian Electricity Regulatory Commission (NERC).
Adesina added:
“We are committed to strategic investments, continuing expansion, and technology-led operations to serve our customers with precision, transparency, and excellence.”
He further noted that ongoing government support, particularly through legacy debt settlements, has enhanced liquidity, facilitated debt repayment, and is expected to drive sector-wide growth in 2026 and beyond.
Sahara Power’s expansion plans are part of broader Federal Government reforms aimed at stabilizing Nigeria’s electricity sector, improving investor confidence, and accelerating the country’s shift toward sustainable and reliable power supply.