The Nigerian Senate, through its Power Committee, is considering a collaboration with South Korean energy firm BK Energy to tackle the country’s persistent issues with grid collapses and the resulting power outages. This initiative was discussed on Monday when the committee, led by its chairman, Senator Enyinnaya Abaribe, hosted a delegation from BK Energy, which is exploring investment opportunities in Nigeria.
During the meeting, Abaribe encouraged the South Korean investors to present practical and viable technological solutions that could help address Nigeria’s electricity challenges. He emphasized the need for innovative approaches that the country could adopt to enhance its energy sector.
Representatives from BK Energy, Mr. Haeagwoo Lee and Mr. Sangwoo Park, proposed the implementation of a mini-grid system to reduce the frequency of grid failures. They explained that South Korea, with a population of approximately 50 million, generates 130,000 megawatts of electricity without relying on a single centralized grid. They stressed the importance of decentralizing electricity transmission to prevent power waste and frequent system failures.
Additionally, they highlighted Nigeria’s untapped potential in utilizing coconut-derived Graphene for power generation, an approach successfully applied in South Korea. They suggested that coconut trees, widely available in Nigeria, could be harnessed to construct local power plants.
Earlier in the meeting, Mr. Uzo Udemba, Chairman and CEO of TUG Energy, who facilitated the visit, introduced Green Hydrogen as a revolutionary development in the energy sector. He urged Nigeria to establish itself as a key player in this emerging field. Udemba also pointed out that several countries are shifting away from the traditional national grid system to avoid the risk of large-scale power failures.
He further stated that BK Energy aims to bring its expertise to Nigeria by setting up factories to train local professionals in power generation, transmission, and distribution using advanced technology. This potential partnership is expected to provide Nigeria with modern, sustainable energy solutions while reducing its reliance on a vulnerable central grid system.