The ‘Quiet Giant’ Transforming Nigeria’s Power Sector with Billion-Dollar Moves

By Achimi Muktar

Nigeria’s power sector has long been synonymous with frustration—crippling blackouts, outdated infrastructure, and underinvestment. With 11 national grid collapses in 2024 alone, the quest for stable energy has felt like a distant dream.

But quietly emerging from this chaos is North-South Power (NSP), a company reshaping Nigeria’s energy landscape with strategic, multi-million-dollar deals and innovative projects. Though far from a household name, NSP is powering a revolution that could redefine the country’s future.

A Game-Changing Acquisition

In a groundbreaking move, NSP, as part of a consortium, recently acquired a 60% stake in Eko Distribution Company (Eko DisCo), one of Nigeria’s largest electricity distribution companies.

The deal—secured in collaboration with Stanbic Infrastructure Fund and Axxela—brings together a powerhouse of expertise and resources. Eko DisCo, which serves Lagos’s bustling southern region and parts of Ogun State, is now poised for a transformation.

The consortium plans to modernize Eko DisCo’s operations, improve customer service, and expand its electricity distribution capacity from 513MW to an ambitious 1,500MW in the coming years.

Olubunmi Peters, Chairman of Transgrid Enerco, highlighted the acquisition’s transformative potential:

“With this acquisition, Transgrid Enerco is poised to lead the transformation of electricity distribution by delivering reliable, sustainable, and innovative solutions. Together, we will modernize infrastructure, improve access, and support economic growth.”

Powerhouses Driving Change

NSP’s influence in the energy sector is far-reaching. It owns and operates two critical hydroelectric power plants:

Shiroro Hydroelectric Power Station: Located in Niger State, this 600MW facility is a cornerstone of Nigeria’s energy grid. Under NSP’s management since 2013, Shiroro has achieved record-breaking production and provides critical grid stabilization services during outages.

Gurara Hydroelectric Power Plant: Situated in Kaduna State, this 30MW plant generates 115GWh annually, contributing to the nation’s renewable energy goals.

Pioneering Renewable Energy

NSP isn’t stopping at traditional power. The company has partnered with the Nigeria Sovereign Investment Authority (NSIA) to launch the Shiroro Solar Power Project, a cutting-edge hybrid initiative combining solar and hydroelectric energy.

With plans to generate 300MW of clean power, the project represents a significant leap toward sustainable energy. Its pilot phase—20MW—is already operational, with full capacity expected in the coming years.

Quietly Revolutionizing Energy

While NSP may not dominate headlines, its impact is undeniable. From restoring key power plants to full capacity to driving renewable energy innovation, the company is proving that Nigeria’s energy challenges can be tackled with vision, strategy, and investment.

As the nation battles an ongoing energy crisis, NSP’s transformative efforts offer a glimmer of hope. With billion-dollar projects and a commitment to sustainable solutions, this “quiet giant” could be the key to unlocking a future where stable, reliable power is no longer a luxury but a reality for all Nigerians.