The Nation Newspaper

Tag: Kola Adesina

  • How govt can address power sector crisis, by expert

    How govt can address power sector crisis, by expert

    The  Managing Director of Sahara  Power Group, Mr. Kola Adesina, has urged the Federal Government to reduce the electricity tariffs of industries in a  move to subsidise production and boost industrialization.

    He delivered the  6th public lecture of the Faculty of Engineering of the University of Lagos (UNILAG), as part of activities to celebrate the 60th anniversary of the founding of the faculty. The lecture was: “ The Nigerian Power Industry: Past, Present the Future.”

    Adesina, while highlighting possible solutions to the power sector problems, stressed the need for government to ensure that the exchange rate is better for the power sector, adding that industries should be sited beside power plants for direct electricity utilisation.

    The Sahara Group Managing Director bemoaned the inability to generate more than 4000 megawatts in the country after privatization and massive investment in the sector.

    Adesina noted that  the power sector has brought zero returns to the nation despite the massive investment in the sector, adding the nation had the wrong mindset that power is a social product,more  for comfort than economic benefits.

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    He said: “The first wrong mindset we had was that electricity is a social product. We built it more for residential comfort. But  the introduction of the Band A and others generated outcry because of the wrong mindset that power is a social product.  In the last 64 years ,we have not addressed the issue.

    “We established electric power without economic benefits.  Politics entered in to electricity such that we built a power plant in Kaduna but we had no gas to power it . We have so many power plants in Nigeria,but they are not functional. Our priorities are so wrong in Nigeria, but we push the agenda for insignificant things .

  • Kola Adesina’s star-studded party

    Kola Adesina’s star-studded party

    Kola Adesina exudes the character of a fine gentleman with the demeanour of a lion. Fierce yet soft inside, but one thing he would never take for an answer is no.

    In his dictionary, the word does not exist. More reason he was able to bring fortune out of every possible misfortune that came his way.

    The graduate of Insurance from the University of Lagos’ magic wand is unrivalled and his business acumen is quite sharp. He is one of the men who does not blow their trumpet. He loathes media attention, but his good works throw him into public consciousness. He loves to do his things abstractly and loves to impact silently.

    The Sahara Group he co-founded years ago has become a high-flying investment with diversification into other pies of business. Many never knew the influence he wielded until his 60th birthday on August 12, at the Harbour Point which gave him attention.

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    Birthday felicitations, social media tags, and newspaper advertorials were not enough to describe the kind of man he is. The board chairman of Ikeja Electric’s birthday was a gathering of stars as captains of industries, political gladiators, celebrities, and top socialites gathered in Lagos to celebrate him.

    At the RCCG, The New House Parish on Victoria Island, Lagos, a thanksgiving service was held in his honour as the birthday boy thanked his creator for the gift of life, recounting the past and his humble beginning and where God has placed him today.

    Despite his wealth, he never failed to thank his God with songs of praises in his mouth. His birthday soiree was well attended as governors, senators, billionaires and others converged to share in his joy and pay him back for his kind gestures. He spared no cost to make the occasion a befitting one as close friends who have benefitted from his milk of kindness came together to present him a gift of over $500,000 Rolls Royce Cullinan.

    While the friends failed to disclose their names; sources say they all contributed to donate the car to him as a sign of appreciation for his contribution to their lives and also being a friend and a shoulder to lean on. Adesina, who is a silent philanthropist, is a dependable friend and a shoulder to lean on for his close associates.