Nigeria’s power sector has long struggled with unreliable infrastructure, chronic blackouts, and a lack of investment, creating significant barriers to growth.
The national grid collapsed 11 times in 2024 alone, disrupting businesses and daily life across the country.
But amid this turmoil, a ‘quiet’ company is making waves in the energy sector, securing multimillion-dollar deals and positioning itself as a major player in the nation’s quest for energy stability.
North-South Power (NSP), a relatively low-profile but highly influential energy company, is at the heart of a new push to stabilise and grow Nigeria’s power sector.
Eko DisCo
NSP is part of a consortium that recently won a bid to acquire a 60 percent stake in Eko Distribution Company (Eko DisCo), one of Nigeria’s largest electricity distribution companies.
The deal, which follows a competitive bidding process initiated in early 2024, is a significant step toward reshaping the energy landscape.
The consortium, which includes the Stanbic Infrastructure Fund (the country’s largest infrastructure fund) and Axxela (one of Nigeria’s top gas producers), is set to bring in a wealth of expertise and capital that could transform Eko DisCo’s operations.
The deal also grants NSP direct control over the company’s operations, providing a clearer picture of its cash flow distribution and allowing for more effective decision-making.
NSP’s acquisition is particularly notable because it ties the company’s operations to two of the most critical energy assets in the country: the Shiroro Hydroelectric Power Station and the Gurara Hydroelectric Power Plant.
Experts say NSP’s management of these assets has already made a significant impact on Nigeria’s energy grid, and now, with increased control over Eko DisCo, NSP is poised to expand its influence even further.
Eko DisCo currently serves the southern part of Lagos State and the Agbara community in Ogun State—regions critical to Nigeria’s industrial and commercial growth.
NSP alongside its partners has outlined an ambitious vision to modernise Eko DisCo’s operations, enhance customer service, and expand its electricity distribution capacity from 513 megawatts (MW) to 1,500MW within the next few years.
“With this acquisition, Transgrid Enerco is poised to lead the transformation of electricity distribution by delivering reliable, sustainable, and innovative solutions. Together, we will modernise infrastructure, improve access, and support economic growth,” Olubunmi Peters, chairman of Transgrid Enerco, said at the signing ceremony.
A statement regarding the transaction showed this acquisition aligns with Transgrid Enerco’s mission to empower communities, promote sustainability, and drive economic advancement through reliable power supply.
“By integrating renewable energy solutions such as solar and hydropower, the company aims to set a new benchmark for efficiency and environmental responsibility in the power sector,” the statement said.
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Shiroro Hydroelectric Power Station
One of NSP’s crown jewels is the Shiroro Hydroelectric Power Station, located in Niger State. This facility, established in 1990, has long been a key contributor to Nigeria’s power generation, with a total capacity of 600 megawatts.
Spanning an impressive 34 square kilometers, the Shiroro facility boasts a 115-meter-tall dam, a 700-meter-long structure, and a 7-billion-cubic-meter reservoir to ensure a steady water supply to its turbines.
The station plays a crucial role in grid stabilisation and provides black-start services, which are essential when the grid collapses—such as during the frequent outages that have plagued Nigeria’s electricity system.
Since NSP took control of the station in 2013, it has restored the facility to its full 600MW capacity, setting a production record in 2016 by generating 2,688GWh, 21percent above the plant’s historical average.
Gurara Hydroelectric Power Plant
In addition to Shiroro, NSP also owns and operates the Gurara Hydroelectric Power Plant, located in Kaduna State.
The Gurara plant has an installed capacity of 30MW and produces an average annual energy output of 115GWh, with a station capacity factor of 44 percent.
Shiroro Solar Project
In another move, NSP has teamed up with the Nigeria Sovereign Investment Authority (NSIA) to launch the Shiroro Solar Power Project, a groundbreaking hybrid initiative that combines solar and hydroelectric energy.
The project, which is set to generate 300MW of power, aims to enhance energy efficiency and contribute significantly to Nigeria’s clean energy goals.
The pilot phase of the project—20MW—is already underway, with plans to scale up to the full 300MW capacity within the next few years.
This innovative hybrid solution, co-located within the Shiroro Hydroelectric Power Plant, marks a major milestone in NSP’s ongoing efforts to modernise and expand Nigeria’s energy infrastructure.
A quiet revolution
Despite the company’s relatively low profile, NSP is quietly and steadily reshaping the Nigerian power sector.
Through strategic acquisitions, innovative projects, and a long-term commitment to sustainable energy, NSP is playing a critical role in powering Nigeria’s future.
As the country continues to grapple with an energy crisis, companies like NSP—backed by multi-million-dollar investments—are leading the charge toward a more reliable and efficient energy system.
The company’s ambitious plans and game-changing projects could be the key to breaking Nigeria’s long-standing energy bottlenecks and finally providing the stable, reliable power the nation so desperately needs.