Minister Adelabu 

Nigeria Aims for 6,000MW Power Generation by December 2024, Says Power Minister

The Nigerian government has reiterated its dedication to overhauling the nation’s power sector through practical and sustainable reforms. This commitment was highlighted by the Minister of Power, Adebayo Adelabu, during the 4th Annual Workshop of the Power Sector Correspondents Association in Abuja. The event, themed “The Power Sector: Ending the Talk, Time for Action,” underscored the urgency of moving from dialogue to implementation.

Represented by Sunday Owolabi, Director of Renewable Energy and Rural Energy Access, Minister Adelabu stressed the government’s focus on tackling challenges in electricity generation, transmission, and distribution. He stated, “We are fully committed to transforming the power sector, ensuring our policies are not only practical but also sustainable.”

Adelabu emphasized that years of discussions and strategic planning have yet to yield sufficient progress. “We have reached a critical juncture where action is imperative. Our citizens, industries, and economy can no longer afford to wait for promises to be fulfilled,” he declared.

The Minister called on all stakeholders, including investors, regulators, and the media, to contribute to the sector’s transformation. He praised the media’s role in informing the public and holding authorities accountable, saying, “Your efforts in providing accurate information, holding us accountable, and offering constructive feedback are vital as we work toward building a resilient power sector that meets the demands of our growing nation.”

Adelabu also reaffirmed the government’s target of achieving 6,000 megawatts (MW) of power generation by December 2024, emphasizing the need for collective efforts to realize this objective.

Edu Okeke, Managing Director of Azura Power West Africa, addressed the importance of a stable and reliable national grid over mini-grid solutions. He advocated for significant private sector investment, suggesting that each Electricity Distribution Company (DisCo) in Nigeria should have a capital base of at least $500 million to drive meaningful transformation.

Okeke stressed the need to clear existing debts from DisCos’ records and attract new investors with substantial capital to invest in infrastructure. “This will require existing shareholders to dilute their stakes to bring in new investors who can invest in tangible assets like transformers, cables, and equipment to ensure reliable service delivery,” he explained.

He urged immediate action, noting that while the steps may be difficult, they are essential to transforming the power sector into a catalyst for economic growth. “Stable and reliable electricity is a prerequisite for any meaningful development in Nigeria, and it is achievable,” Okeke added.

Obas Esiedesa, Chairman of the Power Correspondents Association of Nigeria (PCAN), raised concerns over frequent national grid collapses and recent increases in electricity tariffs. He noted that these issues, which persist 11 years after privatization, echo challenges faced before the sector’s privatization. Esiedesa acknowledged the government’s efforts, particularly the introduction of the 2023 Electricity Act, aimed at addressing these ongoing problems.

The workshop provided a platform for stakeholders to strategize on transitioning from discussions to actionable steps in reforming Nigeria’s power sector. It highlighted the collective responsibility required to achieve sustainable and reliable electricity for all Nigerians, emphasizing the need for collaboration among government, private investors, and the media.

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