Nigeria is targeting approximately $20 billion in fresh investment in its electricity sector, as the Federal Government moves to reduce dependence on public funding and attract private capital to address the country's persistent power infrastructure deficit.
Nigeria’s electricity supply could remain unstable unless the Federal Government addresses mounting debts in the power sector, inadequate investment in gas production and weaknesses in transmission infrastructure, industry stakeholders have warned.
The Federal Government has said sustainable electricity supply will depend on a commercially viable power market supported by cost-reflective tariffs and reliable payment arrangements for electricity generators and gas suppliers.
Former President Olusegun Obasanjo has blamed government control for Nigeria’s persistent electricity crisis, declaring that the country will not resolve its power challenges until the private sector takes control of the energy industry.
The Federal Government says electricity supply has been restored to several areas in Lagos, Ogun, Oyo, Kwara and the Federal Capital Territory following disruptions caused partly by the vandalism of a critical 330-kilovolt transmission line.
Even more disturbing is that the consignments reportedly belong to critical public institutions, including the Federal Ministry of Power, the Transmission Company of Nigeria (TCN) and the Niger Delta Power Holding Company.
The Minister of Power, Joseph Tegbe, acknowledged the disruptions on Thursday, November 5, after complaints from electricity consumers who had recently experienced improvements in supply.
The Federal Government has attributed worsening electricity supply disruptions across Lagos, Abuja, Ogun, Kwara and Oyo states to gas shortages, maintenance challenges and reduced hydropower generation, as it moves to recover abandoned equipment to support electricity infrastructure projects.
The All Progressives Congress (APC) and the opposition African Democratic Congress (ADC), on Sunday, tore at each other over the content and context of the electricity campaign pledge made by President Bola Tinubu as APC candidate in 2022.
The Edo State opposition accuses Governor Monday Okpebholo of making baseless allegations against former governors Godwin Obaseki and Peter Obi, urging him to focus on delivering tangible development rather than deflecting criticism of his administration.
