March 09, (THEWILL)- Grant Thornton Nigeria has hailed the Abia State Government and Geometric Power, the administrators of the Aba Independent Power Plant, over the successful commissioning of the project, describing it as a significant milestone and catalyst for industrialisation in Africa, Nigeria, and especially Aba, often known as the “Taiwan of Africa”.
The Aba Independent Power Plant (IPP) is a pioneering, autonomous, and comprehensive energy facility in Nigeria. It encompasses a 141 MW gas-fired power plant, a 27-kilometer gas pipeline, and a distribution utility, all integrated within a self-contained electrical network. This embedded electricity system independently generates and distributes its power supply.
It is a private investment led by Professor Bartholomew Nnaji, a Nigerian scientist and inventor, renowned for co-creating the E-Design concept. He established Nigeria’s first indigenous-owned power-generating company and served as the country’s former Minister of Science and Technology. The success of the investment is also credited to Professor Ngozi Okonjo-Iweala.
Commenting on this epoch-making event, the Managing Partner and CEO of Grant Thornton Nigeria, Dr. Ngozi Ogwo, stated that the uninterrupted flow of electricity not only powers the operations of organisations but also fuels innovation and economic growth.
“In today’s fast-paced and interconnected world, constant energy supply is essential for thriving business hubs and we are optimistic that consistent energy supply would encourage existing and potential businesses in Aba Industrial City to invest in new technologies and push boundaries, driving economic growth and attracting more opportunities, and our firm, Grant Thornton, is poised to support this growth,” she said.
The Aba industrial city and its surrounding communities are renowned for their resourceful local entrepreneurs, skilled artisans, and craftsmen, who excel at creating spare parts and various machinery using locally sourced materials. Therefore, reliable energy supplies ensure that businesses can operate efficiently and effectively.
The Chief Financial Officer of Geometric Power, Mr. Anthony Ike Alozie, reiterated the critical role the firm would play in supporting and sustaining business hubs through the Aba Independent Power Plant. He said the 24-hour uninterrupted operation will promote innovation, attract investments, and enhance overall performance of businesses in the Aba Industrial City.
“In the short term, we foresee a huge improvement in operational reliability among existing businesses within the Aba business hubs, and this is expected to attract investments and foster job creation, especially in the innovation space in the long and medium terms, respectively,” he said.
Principal Partner at Grant Thornton Nigeria, Mr. Orji Okpechi, highlighted the emergence of global business competitiveness in the hub. He emphasised that consistent power supplies foster rapid innovation, progress, and attraction of investments within the area.
Okpechi underscored the crucial role of electricity in various businesses, ranging from large-scale manufacturing to small startups. He pointed out that power interruptions cause operational disruptions, delays, and financial setbacks, while also tarnishing business reputations, deterring investments, and ultimately hindering global competitiveness.
“Access to dependable electricity enables organizations to concentrate on their core competencies, fostering a collaborative ecosystem. This collaboration results in heightened productivity, efficient operations, and enhanced decision-making, collectively propelling the business hub’s success and competitiveness,” he said.
Companies looking to establish a presence in a particular area consider factors such as infrastructure, connectivity, and utilities, and a reliable power grid is a fundamental requirement. Not only does the constant energy supply benefit individual businesses, but it also contributes to the overall performance of the entire business hub.
Nigeria is a strategic growth market (SGM) within the Grant Thornton International Ltd (GTIL) global network which comprises independent assurance, tax, and advisory firms made up of over 76,000 people across 151 countries. Grant Thornton is recognized globally by capital markets, regulators, and international standard-setting bodies.
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Grant Thornton Nigeria operates from three locations and four offices with two hundred (200) staff and ten (10) partners.
