. Restates commitment to delivering stable, reliable electricity supply
By Tochukwu Bliss, Abuja
As the ding-dong over electricity pricing continues to heat up, the Federal Government, yesterday, insisted that only appropriate pricing can enable the release of the full potential of the power sector.
Minister of Power, Adebayo Adelabu, in a statement, was quoted as attributing recent successes and achievements in the sector to current tariff review.
Signed by his spokesperson, Bolaji Tunji, the Minister was quoted as saying: “One of the key factors contributing to the recent achievements is the electricity tariff review which has ensured liquidity in the sector and created a more sustainable and investment-friendly environment for the power sector.
“By ensuring that tariffs reflect the true cost of power generation and distribution, the government is paving the way for increased private sector participation and the mobilisation of much-needed capital for infrastructure development.”
According to Mr Adelabu, the review is a part of the regularization effort in the industry.
He continued: “The regularisation of tariff will play a critical role in unlocking the sector’s full potential and driving further improvements in power generation and distribution.
“By the time the tariffs are fully regularised, we will be moving closer to 7,000MW of available generation capacity.
“This will mark another significant milestone in our journey towards a stable, reliable, and efficient power sector that meets the needs of all Nigerians.”
By ensuring that tariffs reflect the true cost of power generation and distribution, the government is paving the way for increased private sector participation and the mobilisation of much-needed capital for infrastructure development.
Stable and reliable electricity
This is even as Mr. Adelabu reiterated the government’s commitment to delivering stable and reliable electricity to Nigerians.
This, he said, is evident in the recent achievements recorded in the sector, which has seen unprecedented milestones in power generation, evacuation, and daily energy output, signaling a new era of progress and development.
According to the MInister, Nigeria achieved a record available power generation of 6,003 megawatts (MW), the highest in the nation’s history.
“This is followed by another landmark within the period when the country recorded a peak generation evacuation of 5,801.84MW and a daily maximum energy output of 128,370.75 megawatt-hours (MWh).
“These achievements represent a significant leap forward in the sector’s capacity to meet the growing energy demands in the country, and on-going reforms in the power sector.
“The achievements demonstrate the avowed commitment of the administration of President Bola Tinubu to ensure regular electricity supply in order to galvanise the nation’s economy.
“The record available generation of 6,003 MW, the peak evacuation of 5,801.84 MW, and the daily maximum energy output of 128,370.75 MWh are testaments to the hard work, dedication, and strategic reforms being implemented by minister of power.”
“The achievements are not just numbers; they represent a brighter future for Nigeria, where businesses can thrive, households can enjoy uninterrupted power supply, and the economy can grow sustainably.
“We pray for the sustainability of these landmark records and look forward to further improvements on all parameters in the coming days.”
He further noted that the milestones are the result of concerted efforts by his Ministry, in collaboration with key stakeholders in the sector to address longstanding challenges and optimise the nation’s power infrastructure.
He listed the efforts to include rehabilitation and upgrading of transmission and distribution networks, the implementation of innovative technologies, and the introduction of policy reforms aimed at enhancing efficiency and accountability.
