Minister of Power, Bayo Adelabu has expressed readiness to support President Bola Ahmed Tinubu’s electricity turnaround agenda for Nigeria this New Year and beyond.
Adelabu, however, revealed that the lack of liquidity remains a significant challenge in the electricity market.
Recall that Tinubu had highlighted electricity as a top priority during his New Year broadcast to Nigerians.
Speaking on the developments, Adelabu, in a series of tweets via his X account on Monday, promised that his Ministry has reactivated the Presidential Power Initiative (Siemens Project) to strengthen the national grid in order to improve transmission infrastructure in the country.
He also noted that the Ministry will intervene in distribution infrastructure, supplying transformers to communities without burdening citizens financially.
According to him, “In his New Year broadcast, HE President Bola Ahmed Tinubu @officialABAT highlighted electricity as a top priority. We, at the Ministry of Power, stand ready to steadfastly support the Electricity Turnaround Agenda outlined by the President.
“Over the Yuletide season, the Ministry, agencies, and Discos worked tirelessly to enhance power supply, acknowledging positive improvements. Our focus is now on taking decisive action to address critical challenges in the electricity sector.
“The initial three months involved diagnosis, stakeholder consultation, and strategy formulation. With a well-documented implementation plan in place, it’s now time to take decisive action targeted at enhancing distribution and transmission infrastructures.
“The lack of liquidity remains a significant challenge in the electricity market. We’re reviewing the implementation process of a cost-reflective tariff, while ensuring continued government subsidy for vulnerable members of society.
“Closing the meter gap is imperative, and initiatives like the World Bank programs and the Presidential Metering Initiatives will gain momentum. The Ministry will intervene in distribution infrastructure, supplying transformers to communities without burdening citizens financially.
“Rural electrification is a priority, focusing on solar-powered mini/micro grids and street lights. Collaborating closely with Discos and State Electricity Boards, our efforts will align with local needs.
“To improve transmission infrastructure, we’ve reactivated the Presidential Power Initiative (Siemens Project) to strengthen the national grid. The Eastern and Western super grid projects will also be implemented to increase electricity supply to demand centers.
“The Transmission Company of Nigeria will be reconstituted in the short term, separating Transmission services from System/Market operations. In the medium to long-term, regional grids will be established for effective management.
“Generating at installed capacity is a goal for government-owned plants, while private companies are encouraged to invest further. Off-grid/distributed generation, utilizing renewables, will be a focal point.
“Tackling power theft and vandalism is paramount. We’ve informed the NSA of recorded cases, emphasizing the need for joint efforts to protect our assets. This national responsibility requires collective action to eliminate setbacks.
“As we embark on this transformative journey to bolster Nigeria’s electricity sector, we appreciate the collective effort of all stakeholders. Our commitment is unwavering, and we’re dedicated to overcoming challenges to ensure a reliable and sustainable power supply.
“The path ahead requires collaboration, and we urge citizens, Discos, State Electricity Boards, and private entities to join hands in achieving our shared goal. Together, we can create a resilient power infrastructure that propels economic growth and improves the lives of all Nigerians.
“The steps outlined in the Electricity Turnaround Agenda are strategic, and with your support, we’re confident in our ability to make substantial progress. Let’s embrace this opportunity to power a brighter, more electrified future for our nation.”
2024: Adelabu reveals only challenge to Tinubu’s electricity turnaround agenda
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