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HomeTop NewsNigeria targets historic 6,000 MW power generation by year-end, says Adelabu

Nigeria targets historic 6,000 MW power generation by year-end, says Adelabu

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In a significant move to boost Nigeria’s energy sector, the Federal Government announced plans to generate 6,000 megawatts (MW) of electricity by the end of this year.

The country’s current power generation fluctuates between 4,000 and 4,500 MW, which is insufficient for its 200 million population. As of Friday, the nation generated 4,553.82 MW at 6 a.m.

During a ministerial address in Abuja, Adebayo Adelabu, the Minister of Power, outlined the achievements since President Bola Tinubu took office on May 29, 2023. Adelabu highlighted a notable milestone: on May 3, 2024, Nigeria’s power generation reached 5,000 MW for the first time in three years.

“Achieving 5,000 MW of power generation on May 3, 2024, marked a significant turnaround for our energy sector. Our goal is to reach 6,000 MW by the end of this year, setting a new historical benchmark for Nigeria,” Adelabu stated.

Adelabu attributed this progress to a series of infrastructural upgrades and the ongoing Presidential Power Initiative, which has been pivotal in enhancing Nigeria’s power assets.

He mentioned the signing of an accelerated performance agreement in November 2023 by President Tinubu and German Chancellor Olaf Scholz, which has expedited the implementation of the initiative to improve electricity supply.

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“The pilot phase of the Presidential Power Initiative has resulted in substantial infrastructure improvements, including an additional grid evacuation capacity of 2,230 MW. We expect to commission another 183 MW by the end of June 2024,” Adelabu added.

The minister also announced that the government is finalizing contracts for Phase 1 of the Presidential Power Initiative.

This phase includes the rehabilitation of 15 existing substations, with contracts expected to be signed by August 2024, and the construction of 22 new substations, with an expected contract date in October 2024.

Addressing the issue of metering, Adelabu highlighted the Presidential Metering Initiative, which aims to supply two million meters per year over the next five years.

This initiative is expected to improve sector liquidity and reduce the reliance on estimated billing.

“We have made significant strides in improving our power infrastructure and are committed to ensuring reliable and sufficient electricity supply for all Nigerians,” Adelabu concluded.

This ambitious plan underscores the government’s commitment to overcoming the nation’s longstanding power challenges and driving economic growth through improved energy infrastructure.

(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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