Nigeria Needs $10 Billion Per Year For 20 Years To Achieve Stable Electricity Supply – Adelabu

The Minister of Power, Adebayo Adelabu, says Nigeria needs $10 billion annually for 20 years to have a stable electricity supply.

The minister stated this on Tuesday in an interview with journalists after inaugurating the 2.5 MW solar hybrid power project at the Nigerian Defence Academy (NDA), Kaduna.

He said the infrastructure deficit in the power sector had piled up over the last 60 years due to a lack of maintenance, lack of additional investment, and failure to revive transmission grids.

“For us to achieve functional, reliable, and stable electricity in Nigeria, we need not less than $10 billion annually for the next 10 to 20 years.

“But there are some foundational bottlenecks that we experienced in the past that need to be fixed for the spending of this money to have meaning,” the minister said.

He, however, said the present administration of President Bola Tinubu was doing its best to tackle the challenges.

Adelebu said the signing of the energy bill into an Act was one of the important steps taken by the government to tackle the challenges in the power sector.

“This bill has achieved liberation and decentralisation of the power sector to enable all levels of government – federal, state, and local governments to legally and morally play roles in the power sector to give their citizens at sub-national levels electricity.

“This has given autonomy to more than eleven states, and more are still coming.

“They can now play roles in the power sector from generation to transmission to distribution and even metering.

“Secondly, we talk about infrastructure deficit, then we talk about fixing infrastructure deficit which has piled up over the last 60 years due to lack of maintenance, lack of additional investment to revive our transmission grid”, he said.

Olamilekan Adigun

Olamilekan Adigun is a graduate of Mass Communication with years of experience in journalism embedded in uncovering human interest stories. He also prioritises accuracy and factual reportage of issues.

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