As the world’s demand for electricity grows, it is becoming more important to have functional power systems for sustainable economic development and growth. To achieve this, Khalil Woli, an expert in energy finance, shares an insight into the direct link between industrial growth and the considerable effort to scale the electricity power supply.
Woli told the media in an interview that “reliable power is not just an operational factor.” He said, “It decides if manufacturers can grow, if new businesses want to invest, and if economies can compete on a global scale.”
Woli, who has lived in both the US and Nigeria, believes that the different levels of grid reliability affect the economy. Because the power grids in the United States are so well-developed, manufacturers can plan their production with confidence. On the other hand, businesses in Nigeria often suffer setbacks because of problems with infrastructure, power outages, and limited financing, thereby making it difficult for small and medium-scale businesses to grow and expand.
Woli says that these problems are caused by both money and engineering factors, emphasizing that no one can fully trust power plants and transmission assets if the financial systems that support them are aware of operational risk and keep up with maintenance over time. He said, “Investors need to be sure that energy systems will always work well and give them steady returns.” He added that “Good financing makes reliability a natural part of the system instead of something that needs to be added later.”
He says that when public and private groups work together, they can make investments happen even if the business case is not strong. He emphasized that “building a solution is just the start.” However, “Long-term performance depends on clear reporting and disciplined management so that maintenance and upgrades are never put off,” he clarifies.
Not just in the power sector, the stakes are high. A steady supply helps factories run smoothly, keeps jobs safe, boosts business confidence, and brings in new industries that want to learn how things work. Woli said, “Every hour of reliable electricity means more work and more competition.” Further stating that “there is a cost to not being reliable, even for short periods of time.”
Woli discusses the future impact of global planned energy, such as those that put grids all over the world to the test, advanced economies need, data centers, and digital infrastructure. Emerging markets need to fix both of these problems if they want to thrive in their business. He said, “Power systems need to be able to handle changing demand patterns and stress from the environment.” “Resilience is now just as important as capacity.”
He thinks that having clear rules is still one of the best ways to get people to invest in energy for a long time. The predictability of tariffs, the clarity of cost recovery, and the efficiency of regulatory processes all play a role in whether or not funding goes through. He said, “Trust in the policy environment speeds up implementation.” “When the rules and structures of money work together, infrastructure can have the economic effect it was meant to have.”
Woli says that in the future, a country’s ability to compete will depend less on how much electricity it can make and more on how reliably that power gets to the businesses that need it. He kept saying, “Growth is linked to reliable energy.” “Reliability should be seen as a key national asset for countries that want to improve manufacturing and boost exports.”
