Adebayo disclosed this on Thursday at the 4th Power Correspondents Association of Nigeria annual workshop in Abuja.
The Minister of Power, Adebayo Adelabu, has promised Nigerians that the government is resolute on achieving 24-hour power supply for Nigerians.
This was made public on Thursday at the 4th Power Correspondents Association of Nigeria annual workshop in Abuja.
Adelabu, represented by Director of Renewable Energy, Sunday Owolabi, stressed that the government’s policies are focused on ending the challenges facing the country’s electricity transmission, distribution and generation sub-sectors.
“We are fully committed to transforming the country’s power sector.
“We are focused on ensuring that our policies are practical and sustainable.
“We are resolute on ensuring power supply for every Nigerian,” he said.
This comes as the Managing Director of Azura-Independent Power Plant, Edu Okeke, restated the need for private sector investment to address the challenges in Nigeria’s power sector.
Edu said for a plausible change in the power sector, each electricity distribution company in Nigeria needs to invest at least $500 million.
He said, “Until private sector investment comes into Nigeria, nothing like transformation will be seen in the country’s power sector.”
Edu’s standpoint comes at the time Adelabu recently revealed that Nigeria needs $10 billion in private sector investment to guarantee a 24-hour power supply.
Also speaking at the workshop, Chairman of PCAN, Obas Esiedesa, lamented that the incessant national grid collapses have been a source of concern, in addition to the recent electricity tariff hike.
“However, persistent issues with grid reliability and the ongoing challenges in the national grid system, even after 11 years of privatisation, remind us too much of the pre-privatisation era.
“Our concerns are heightened by the fact that these issues persist despite the service-based tariff and the increased tariffs for Band A customers,” he stated.
He lauded the efforts of the government in ending the country’s power sector challenge, especially with the 2023 Electricity Act.
Recall that in the past months the National Grid has collapsed at least twelve times, plunging the country into darkness.
Similarly, vandalization of Transmission Company of Nigeria, TCN, facilities has surged in recent months.
TCN on Wednesday announced that armed vandals destroyed power transformer rediator Obajana Transmission Substation.
The incident comes at a time when parts of Northern Nigeria still remain in darkness following damage of electricity infrastructure by vandals.