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Nigeria requires $10 billion annually for two decades to ensure a stable power supply, according to Minister of Power, Adebayo Adelabu. Speaking at the commissioning of a 2.5 megawatt solar hybrid power plant at the Nigerian Defence Academy in Kaduna, he cited decades of underinvestment, poor maintenance, and outdated infrastructure as key challenges in the sector.
He emphasised the Tinubu administration’s resolve to resolve persistent electricity issues nationwide.
“For us to achieve functional, reliable, and stable electricity in Nigeria, we need at least $10 billion annually for the next 20 years. But there is some foundational bottleneck that we experienced in the past that needs to be fixed for the spending of this money to have meaning,” he stated.
Adelabu pointed to the recent enactment of the energy law as a major milestone in restructuring the sector.
“This bill has achieved liberation and decentralisation of the power sector to enable all levels of government — federal, state, and local governments — to legally and morally play roles in the power sector to give their citizens at sub-national levels electricity.
“This act has given autonomy to more than 11 states, and more are still coming. They can now play roles in the power sector from generation to transmission to distribution and even metering.”
He stressed the urgent need to address the country’s infrastructure deficit, which has built up over 60 years due to lack of investment and system upgrades. Source : https://www.channelstv.com/
