NEWS

FG Unveils $23bn Plan To Fix Nigeria’s Power Crisis

The Federal Government has launched an ambitious energy access programme to bridge Nigeria’s electricity gap and transform the nation’s energy sector.

According to the government, the initiative will require $23.2 billion, with $15.5 billion expected from private sector investment.

A statement from Bolaji Tunji, spokesman for the Minister of Power, Adebayo Adelabu, highlighted that the programme is designed to drive comprehensive sector reforms.

Tunji noted that the initiative stems from the recently concluded Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania. The two-day summit, hosted by Tanzania’s government alongside the African Union, the African Development Bank Group, and the World Bank Group, aims to accelerate electricity access for 300 million Africans by 2030.

“Through the energy access programme, tagged the National Energy Compact, the government aims to increase electricity access from 4 per cent to 9 per cent annually, boost access to clean cooking solutions from 22 per cent to 25 per cent annually, expand renewable energy’s share in the power generation mix from 22 per cent to 50 per cent, and mobilise $15.5bn in private investment to drive last-mile electrification,” Tunji explained.

He added that these efforts align with UN Sustainable Development Goal 7, which seeks to ensure universal access to modern energy services.
Unveiling the programme, Adelabu said it would expand electricity access, increase renewable energy adoption, and improve clean cooking solutions for millions of Nigerians.

“With 150 million Nigerians already electrified, Nigeria remains committed to ensuring universal access to affordable and sustainable energy by 2030,” the minister said.

Adelabu noted that although the expansion roadmap is well-defined, challenges like power infrastructure vandalism pose a major threat to Nigeria’s electrification efforts.

He expressed concern over the frequent targeting of transmission towers, pipelines, and distribution equipment, which disrupts supply and deters potential investors.

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