Adelabu: Nigeria Needs $10bn annually to revitalise power sector
The Minister of Power, Adebayo Adelabu, has revealed that Nigeria requires an annual investment of $10 billion to address its long-standing power sector challenges, describing the task as monumental but achievable within the next 20 years.
During the commissioning of the Phase 1 – 600kW Solar PV Power Plant at the Nigerian Defence Academy (NDA) in Kaduna, Adelabu emphasized the importance of sustained funding and a long-term commitment to overhaul the nation’s energy infrastructure for stable electricity supply.
“For us to achieve functional, reliable, and stable electricity in Nigeria, we need not less than $10 billion annually for the next ten to twenty years,” he stated. He noted, however, that foundational bottlenecks must first be addressed to ensure that this investment yields meaningful results.
Adelabu highlighted significant progress made by the current administration, including the signing of the energy bill into law, which has liberalized and decentralized the power sector, allowing various levels of government to contribute to power supply.
“More than eleven states now have the autonomy to engage in activities from generation to transmission, distribution, and metering,” he explained. He also pointed out the urgent need to resolve an infrastructure deficit that has accumulated over the past 60 years, stemming from inadequate maintenance and investment in the transmission grid.
The minister emphasized the need to bridge a metering gap of over 50%, with a presidential initiative aiming to install 18 million meters in the next five years.
Earlier, addressing military officers at the NDA, he reiterated the significance of the newly commissioned Solar PV Power Plant, stating, “These projects… underscore our commitment to improving electrification across key institutions in Nigeria.”
He added that the initiative aligns with the vision for a secure and energy-efficient Nigeria, supporting critical sectors such as education and security. “The partnership between the Nigerian power sector and the Nigerian Armed Forces is essential for protecting critical infrastructure,” he acknowledged, urging collaboration to safeguard power assets amid rising vandalism.
In closing, the minister emphasized mutual respect and understanding in the partnership between the power sector and the military, underscoring their shared objective for a prosperous Nigeria supported by sustainable electricity.
Source: The Nation
