Minister of Power, Adebayo Adelabu, announced that over 40% of Nigerians now enjoy 20 hours of daily electricity supply, a significant improvement achieved in the last year under President Bola Tinubu’s administration. This development is part of the President’s Renewed Hope Agenda, aimed at revitalizing Nigeria’s economy through stable power supply.
Adelabu noted that when he assumed office, Nigeria had an installed generation capacity of 13,000 megawatts, but only about 4,000 megawatts were being transmitted and distributed. Since then, power generation has increased to over 5,500 megawatts, and efforts are ongoing to further boost capacity by the end of 2024. Additionally, the adoption of renewable energy sources like solar and wind is gradually improving.
He attributed the success to measures implemented by the ministry and support from President Tinubu, emphasizing that reliable electricity is crucial for industrial development and economic growth. Adelabu highlighted the importance of stable power for industries, businesses, and institutions, comparing Nigeria’s potential to nations like South Korea and China, whose industrial growth was driven by consistent electricity supply.
The minister also reaffirmed the government’s commitment to creating policies and structures that will ensure affordable and reliable electricity for households and businesses, fostering job creation and boosting production in various sectors.
