The latest edition of The Coffee Table (TCT) with Ugodre featured energy expert and CEO of Montserrado, Ifeanyi Ajuluchukwu, who highlighted Nigeria’s persistent infrastructure deficit, pricing challenges in the energy market, and funding constraints.
Ajuluchukwu stressed that commercial banks in Nigeria are not structured to support long-term infrastructure projects, particularly in the power sector.
He explained that local banks prefer short-term lending cycles that allow them to recycle funds quickly, making them unsuitable for financing projects that require patient capital.
“Infrastructure anywhere in the world is a long-term play. An average Power Purchase Agreement (PPA) is 15 to 20 years. If I go to a bank to raise money for 15 years, they don’t even have the money,” he said.
Beyond financing, Ajuluchukwu addressed the cost of solar power in Nigeria, noting that it remains more expensive than fossil fuels despite global trends toward renewable energy. He argued that pricing reforms and targeted investments are needed to make solar viable without undermining industrial growth.
The conversation also touched on Nigeria’s refining capacity. Ajuluchukwu questioned whether the Dangote Refinery alone could meet national energy demands, suggesting that modular refineries may be the missing piece to drive the country’s energy future.
The session underscored the need for innovative funding models, diversified energy solutions, and policy reforms to tackle Nigeria’s energy challenges sustainably.
Watch the full episode of The Coffee Table (TCT) with Ugodre to enjoy Ajuluchukwu’s insightful perspective.
