The Minister of Power, Bayo Adelabu, has pledged support for President Bola Ahmed Tinubu’s ambitious electricity turnaround agenda for Nigeria in the coming year. However, he has highlighted the lack of liquidity as the primary obstacle in the electricity market.
In response to Tinubu’s emphasis on electricity as a top priority in his New Year address to the nation, Adelabu took to his social media account to outline the Ministry’s plans. He revealed that the Presidential Power Initiative (Siemens Project) has been reactivated to strengthen the national grid and enhance transmission infrastructure. The Ministry also aims to intervene in distribution infrastructure, ensuring the supply of transformers to communities without imposing a financial burden on citizens.
Adelabu acknowledged the challenges within the electricity sector, particularly the lack of liquidity in the market. He mentioned the review of a cost-reflective tariff implementation process while ensuring continued government subsidy for vulnerable members of society. Additionally, the Ministry aims to address the meter gap through initiatives like the World Bank programs and the Presidential Metering Initiatives, without burdening citizens financially.
The Minister stressed the priority of rural electrification, focusing on solar-powered mini/micro-grids and street lights. Collaborating with distribution companies and State Electricity Boards, the Ministry seeks to align its efforts with local needs.
To address transmission infrastructure, the Ministry plans to reconstitute the Transmission Company of Nigeria in the short term and establish regional grids in the medium to long term for effective management. It aims to encourage private companies to invest further in order to generate at installed capacity and focus on off-grid/distributed generation using renewables.
Adelabu also underscored the importance of tackling power theft and vandalism and emphasized the need for joint efforts to protect the country’s assets.
The Minister called for collective efforts from all stakeholders, including citizens, distribution companies, State Electricity Boards, and private entities, to achieve the shared goal of creating a resilient power infrastructure that drives economic growth and improves the lives of all Nigerians.
Adelabu expressed confidence in the Ministry’s ability to make substantial progress in implementing the Electricity Turnaround Agenda with the support of all stakeholders. He urged everyone to embrace the opportunity to power a brighter and more electrified future for the nation.
In conclusion, Adelabu’s commitment to addressing the challenges and his call for collaborative action underscore the significance of Tinubu’s energy transformation plan, positioning it as a key driver for Nigeria’s development in the years to come.
