President Bola Tinubu reaffirmed his administration’s commitment to the Presidential Power Initiative, a project designed to boost electricity supply across Nigeria. Speaking with a delegation from Siemens Energy at the State House, Tinubu stressed that improving power infrastructure is essential for the country’s economic recovery and development. He noted that the initiative, which began in 2021, must accelerate to meet its goals, stating, “We are taking power very seriously. There is no industrial growth or economic development without power. We appreciate the support and commitment of the German government and Siemens.”
Tinubu ordered the expansion of several major transformer substations under the project to further strengthen the national grid. Minister of Power Adebayo Adelabu briefed the President on the initiative’s milestones, including the attraction of over $22 billion in fresh investments and the activation of state‑level electricity markets. Siemens Energy has supplied mobile substations and transformers that have added 984 MW of transmission capacity nationwide. Civil works for Phase One upgrades in multiple locations are set to begin, with two substations slated for completion 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. Finance Minister 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 driver of Nigeria’s economic development. Its successful implementation—through accelerated pace, expanded scope, job creation, investment attraction, and grid improvement—will have a significant impact on the country’s economy and the lives of its citizens.
Comments are closed for this story.