President Bola Ahmed Tinubu don approve fresh N3.3 trillion to settle verified legacy debts wey dem owe power generation companies, as Minister of Power Joseph Tegbe announce for Abuja. Tegbe talk for di 6th Annual Conference of Power Correspondents Association of Nigeria, PCAN, workshop. Martins Olajide, Special Adviser on Administration and Project, represent am for di event.
Minister tok say government don raise N1.23 trillion under di plan to ease pressure on power generation companies and help dem pay for gas and maintain their plants. E also say over 2.8 million customers don get meter under di Presidential Metering Initiative to reduce collection losses. Rural Electrification Agency don connect universities, hospitals and rural communities to solar power, e add.
According to am, construction don start for new ultramodern National Grid Control Centre for Osogbo to replace di old one wey dem build over 60 years ago. Between 2023 and October 2026, additional transmission capacity pass 15,000MVA enter national grid. For di past two months, e commission new substation equipment across Kumbotoso, Dankata, Mashi, Dan-Agundi, Apapa, Ijora, Ikeja, Biliri, Walalambe and other places, adding over 1,300MVA to Nigeria transmission capacity. Di projects don unlock more power to distribution companies for industrial and household customers.
Tegbe call vandalism serious threat to power sector, say e dey damage critical infrastructure and disturb supply. President Tinubu don approve coordinated anti-vandalism campaign with relevant security agencies, backed by stronger legal framework to protect power assets, stop sabotage and hold offenders accountable.
Di minister say government get four-pronged roadmap to tackle power sector problems: grid stabilisation, sector liquidity and sustainability, asset optimisation, and expansion and enhancement of di grid. Corridor approach dey central to di plan, and e go prioritise major load centres for reliable round-the-clock electricity. Government don commission technical audit to set diagnostic baseline, identify critical constraints and guide how interventions go dey prioritised, sequenced and executed.
Di corridor approach go align generation, transmission reinforcement and distribution capacity with demand in major economic clusters: Lagos and Ogun, Benin, Enugu and Port Harcourt, and Abuja, Kaduna and Kano energy zones.
For di same conference, stakeholders warn say gas debts wey pass N639 billion, low investment for gas and poor power equipment fit worsen blackout for Nigeria. Dem warn say if government no fix fiscal and governance problems for di sector, Nigeria target to become $1 trillion economy by 2030 fit face obstacle.
Bashiru Adoke of Nigerian National Petroleum Development Company talk say poor gas payment structure na one of di major problems. E say power generation companies no dey receive enough money to pay for gas, and revenue from electricity market no reach to cover gas cost even though gas dey chop large part of production cost. Adoke also worry say high electricity tariff fit make people and companies abandon national grid go solar and other self-generation, and that one fit threaten sustainability of di system.
