Adebayo Adelabu, the Minister of Power, announced that the federal government has launched a Presidential Power Initiative to enhance electricity supply in the country.
Adelabu shared this information during a ministerial press briefing organized by the Ministry of Information and National Orientation in Abuja on Friday.
In addition to the power initiative, Adelabu mentioned that the government has also introduced a Presidential Meter Initiative to decrease the number of customers without meters in the country.
“There is also the Presidential Meter Initiative (PMI) put in place to ensure that the meter gap is addressed,” he said.
“And we also have a lot of development banks that are working with us on several projects in transmission and distribution.
“So, as a ministry, we are committed to making an impact during this administration.”
He highlighted that efforts are being made to increase the capacity of generation companies and improve the transmission segment of the industry.
The minister emphasized that the government has invested in gas-to-power infrastructure and implemented policies to attract private investment. However, he expressed regret that many people still do not have access to reliable power supply.
Adelabu further explained that the government has been making data-driven decisions by collaborating with experts to develop an integrated energy planning toolkit.
“This innovative tool provides real-time data to pinpoint ideal locations for renewable energy projects, streamlining investment decisions,” he said.
“We have developed legal frameworks that have liberalised the entire electricity value chain, integrated renewable energy.
“Established an Independent Systems Operator (ISO), guidelines for franchising, captive power and mini-grid regulations.
“In addition, programmes being implemented by the Rural Electrification Agency have been successful in providing traditional and innovative financing opportunities for private sector driven interconnected and off-grid project delivery.”
On April 3, the Nigerian Electricity Regulatory Commission (NERC) authorized a price hike for customers in Band A.
Band A customers are those who receive 20 to 24 hours of electricity supply in the country.
