President Bola Tinubu has reiterated his administration’s commitment to the Presidential Power Initiative, a project aimed at boosting electricity supply across Nigeria. During a meeting with a delegation from Siemens Energy at the State House, Tinubu emphasized the importance of improving power infrastructure for the country’s economic recovery and development.
The President noted that the project, which started in 2021, must accelerate its pace to achieve its objectives. “We are taking power very seriously,” he said. “There is no industrial growth or economic development without power. We appreciate the support and commitment of the German government and Siemens.” Tinubu directed that some major transformer substations under the project be expanded to further strengthen the national grid.
The Minister of Power, Adebayo Adelabu, briefed the President on the milestones achieved under the initiative, including the attraction of over $22 billion in fresh investments and the activation of state-level electricity markets. Siemens Energy has delivered mobile substations and transformers that have added 984 MW of transmission capacity nationwide. Civil works for Phase One upgrades in several locations are set to commence, with two substations expected to be completed by the end of 2026.
Siemens Energy’s Middle East and Africa Managing Director, Dietmar Siersdorfer, highlighted the project’s potential to create jobs, foster technology transfer, and position Nigeria as a regional power hub. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, emphasized that stable power will improve the ease of doing business and support employment growth. Germany’s representative at the meeting, Johannes Lehne, pledged continued cooperation with Nigeria.
The Presidential Power Initiative is a critical project for Nigeria’s economic development, and the government’s commitment to its success is crucial. With the project’s potential to create jobs, attract investments, and improve the national grid, its successful implementation will have a significant impact on the country’s economy and citizens’ lives. As the project moves forward, the government’s focus on accelerating its pace and expanding its scope will be essential to achieving its objectives and realizing its full potential.