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LAGOS – Nigeria’s electricity problems lies in making the power sector financially stable, the Federal Government has said.
The Minister of Power, Joseph Tegbe, who said this at stakeholders’ engagement in Lagos on Friday, disclosed that liquidity challenges are hurting the sector more than technical faults.
“Under my leadership, we are focusing on commercially viable areas with high demand,” Tegbe told journalists and industry players.
He added:“A financially viable sector is critical to delivering sustainable electricity to all Nigerians.”
He outlined a four-point vision: electricity that is reliable for homes, competitive for industries, sustainable to attract investment, and inclusive enough to reach every Nigerian.
Tegbe noted that the government is not starting from scratch. Instead, it is building on the reforms already introduced by President Bola Ahmed Tinubu, while addressing long-standing structural weaknesses that have limited growth.
He described the Lagos meeting as the start of a new era of openness, accountability and collaboration in the power sector.
“Our objective is clear. To make
electricity more available, make the grid more reliable, make the market financially sustainable and restore investor confidence. Ultimately, we want to ensure that electricity becomes a catalyst for national productivity rather than a constraint to economic growth,” Tegbe stated.
The Minister also affirmed that President Bola Ahmed Tinubu has demonstrated strong political commitment to electricity sector reform since the liberalisation of the industry, as his administration understands an undeniable truth that, “No nation has ever industrialised without reliable electricity.”
The Minister also dismissed rumours of plans to increase tariff as reported in some media platforms, noting that through the Presidential Metering Initiative, Nigeria is moving decisively towards universal metering because consumers deserve transparency, fairness and confidence that they only pay for the electricity they actually consume.
“This administration has also prioritised investment in transmission infrastructure, expanded rural electrification, strengthened institutional coordination across the electricity value chain, and continued to pursue reforms that encourage private capital while preserving the public interest,” the Minister noted.
Tegbe said the Power Ministry has immediately commenced several significant interventions, including the inauguration of the Power Force.
This initiative brings together 5,000 Nigerian Youths for meter installation across the country. This is to close the metering gap and also develop a strong, skilled pool of young Nigerians in the electricity field (NAPTIN).
Other interventions include significant progress in resolving the age-long challenges surrounding meter procurement, and encouraging improvements in electricity generation, as over the course of the last two weeks, the sector has consistently crossed the 5,000MW mark.
