The Nigerian government has reaffirmed its commitment to transforming the nation’s power sector through actionable reforms aimed at ensuring policies are both practical and sustainable. This was articulated by Minister of Power, Adebayo Adelabu, during the 4th Edition of the Power Sector Correspondents Association Annual Workshop in Abuja, themed “The Power Sector: Ending the Talk, Time for Action.”
Represented by the Director of Renewable Energy and Rural Energy Access, Sunday Owolabi, Minister Adelabu emphasized the government’s focus on addressing challenges in electricity transmission, distribution, and generation. He stated, “We are fully committed to transforming the country’s power sector; we are focused on ensuring that our policies are practical and sustainable.”
Highlighting the urgency for tangible progress, Adelabu noted that discussions and strategic dialogues have been ongoing for years without sufficient action. He asserted, “We have reached a pivotal moment where the time for action has arrived. Our citizens, industries, and economy can no longer wait for promises.”
The Minister called upon all stakeholders, including investors, regulators, and the media, to play critical roles in the sector’s transformation. He acknowledged the importance of the media in informing the public and holding authorities accountable, stating, “Your work in informing the public, holding us accountable, and providing constructive feedback is essential as we strive to build a resilient power sector that meets the needs of our growing nation.”
Adelabu also reiterated the government’s target to achieve 6,000 megawatts (MW) of power generation by December 2024, underscoring the need for collaborative efforts to meet this goal.
Addressing the pathway to a sustainable grid, Edu Okeke, Managing Director of Azura Power West Africa, emphasized the necessity for stable and reliable grid power over mini-grid solutions. He advocated for substantial private sector investment, recommending that each Electricity Distribution Company (DisCo) in Nigeria should have a capital base of at least $500 million to drive the needed transformation.
Okeke highlighted the importance of removing existing debts from DisCos’ books and attracting new investors with real capital to invest in infrastructure. He stated, “This will require existing shareholders to dilute their holdings to attract new investors with real capital to invest in infrastructure, not just on paper but in transformers, cables, and equipment to serve customers reliably.”
He further urged immediate action, noting that while the steps may be challenging, they are achievable and necessary to transform the power sector into an engine of economic growth. “Stable, reliable power is a prerequisite for any meaningful development in Nigeria, and it is within our reach,” Okeke added.
Chairman of the Power Correspondents Association of Nigeria (PCAN), Obas Esiedesa, expressed concerns over persistent national grid collapses and recent electricity tariff hikes. He remarked that these issues, persisting 11 years after privatization, remind Nigerians of the pre-privatization era. Esiedesa acknowledged the government’s efforts, particularly with the enactment of the 2023 Electricity Act, aimed at addressing these recurring challenges.
The workshop served as a platform for stakeholders to discuss and strategize on moving from discussions to actionable steps in transforming Nigeria’s power sector, emphasizing the collective responsibility required to achieve sustainable and reliable electricity for all Nigerians.
