To achieve functional, reliable, and stable electricity, Nigeria requires a yearly investment of at least $10 billion over the next 10 to 20 years, according to the Minister of Power, Adebayo Adelabu.
Speaking at the commissioning of a 2.5-megawatt solar hybrid power project at the Nigerian Defence Academy in Kaduna, the minister highlighted critical foundational issues that must be resolved for any financial investment to have a meaningful impact on revamping the nation’s power sector.
Adelabu commended the current administration for addressing legislative and policy barriers by signing the Energy Act into law. He said the Act has effectively decentralized the power sector, empowering federal, state, and local governments to take active roles in power generation, transmission, distribution, and metering.
“This has given autonomy to more than eleven states, and more are still joining. They now have the legal and moral backing to participate in the entire power value chain,” he said.
The minister also emphasized the urgent need to address the nation’s long-standing infrastructure deficit, which he attributed to six decades of poor maintenance and insufficient investment, especially in the transmission grid.
Additionally, Adelabu identified a significant metering gap, stating that the government aims to install 18 million meters over the next five years under a presidential initiative.
