Tag: Adebayo Adelabu

Nigeria needs $10bn for 24 hours power supply – Minister

The Federal Government says it needs 10 billion dollars Public-Private-Partnership investment in the power sector, in the next five to 10 years, to achieve 24 hours power supply.

The Minister of Power, Mr Adebayo Adelabu disclosed this when the Director-General, Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Ewalefoh paid him a courtesy visit.

A statement on the visit was made available to newsmen on Wednesday in Abuja, by Mr Ifeanyi Nwoko, Acting Head, Media and Publicity, ICRC.

In the statement, Adelabu said that the government alone, could not afford the 10 billion dollars, when there were other critical sectors in need of funding.

“Government cannot do it alone this is why we have to look for organised private sector funding, while still retaining government interest and ownership.

“That is where ICRC comes in. We need to do this in collaboration with the private sector and the best way is through concession,’’ he said

Earlier, Ewalefoh said it had become imperative to seek private sector input through Public Private Partnership to improve the power sector.

He said in view of the importance of power to the economic development of the nation, optimising performance of existing infrastructure as well as funding new ones was imperative.

The ICRC boss said that the challenges in the sector were many and had gone beyond funding by the Federal Government alone.

According to him, with inter-agency collaboration and partnership with the private sector, the limitations could be addressed.

The D-G said that through its regulatory processes, the ICRC could midwife private sector investment to raise part of the 10 billion dollars needed in the sector to provide regular electricity.

He added that the ICRC could also attract more foreign direct investment to other sectors and ultimately grow the economy.

“Revamping the power sector requires planning, it involves investments and it takes time. So, we need to collaborate to solve the issues in this sector.

“The investment required in the power sector is very huge and government cannot fund it alone, so we have to leverage on the financing capacity of the private sector.

“That is why the ICRC was set up to regulate this leverage,” he said.

Ewalefoh commended the minister for his vast knowledge of the sector, noting that President Bola Tinubu ‘s decision on his choice was commendable.

He recalled that in a bid to accelerate PPP investment as directed by the President, the commission issued a 6-point policy direction which streamlined the process of PPP service delivery.

The D-G said that the commission was not relenting or compromising on its stringent regulatory function to forestall contingent liabilities or unnecessary delays by companies that lacked the requisite capacity.

November 13, 2024
Grid collapse: Minister orders immediate implementation of committee report

The Minister of Power, Mr Adebayo Adelabu has ordered the TCN and other relevant agencies of the ministry to begin immediate implementation of the recommendations of the inter-agency committee.

Mr Bolaji Tunji, the Special Adviser to the Minister of Power on Strategic Communications and Media said this in a statement in Abuja on Thursday.

Tunji said that the committee was set up to address the incessant grid collapses in the power sector.

The committee recommended the audit and testing of existing equipment and improvement in maintenance of the transmission equipment and lines.

It called for significant investments from the government and the private sector. It also recommended the development of a framework and to adopt reliability-centered maintenance The committee identified critical ongoing projects for speedy completion .

The committee also recommended the replacement of aged and obsolete equipment, as well as enhance SCADA and telecommunication tools

It urged a developing framework to attract private investment across the value chain, deploy IoT device on generating units and transmission lines and secure firm gas contracts

It also called for the development and implementation of measures to combat vandalism and energy theft among others.

He said that the minister’s matching order followed the Transmission Company of Nigeria’s (TCN”s) report that the national grid had experienced a disturbance at approximately 11:29 a. m, on Thursday, which was caused by a sudden rise in frequency from 50.33Hz to 51.44Hz.

Tunji quoted the minister as saying “all relevant agencies in the ministry must brace up for the immediate implementation of the recommendations of the committee”.

“The recommendations of the committee are far reaching and will proffer lasting solutions to the incessant power grid collapses that we have embarrassingly witnessed in the country in the immediate and long term, ” he said.

Bolaji said that TCN had assured consumers that efforts were being intensified to ensure uninterrupted power supply to them.

According to him, the agency is working to ensure the full and immediate implementation of the recommendations of the committee to save Nigeria from the incessant grid collapsed.

November 8, 2024
National grid collapse: Appointing Adelabu as Minister of power, a great disservice to Nigeria – HURIWA slams Tinubu

The Human Rights Writers Association of Nigeria (HURIWA) has called for the immediate removal of the Minister of Power, Adebayo Adelabu while reacting to the latest collapse of the national grid which occurred on October 14 and 15, 2024.

The group, in a statement signed by HURIWA’s National Coordinator, Comrade Emmanuel Onwubiko, argued that the Minister so far has shown a high level of “gross incompetence”, adding that he is unfit for the role.

Onwubiko said that Adelabu has been a revolving door for politicians who consistently fail to deliver results.

Onwubiko said, “Nigeria has had the misfortune of some of the worst species of politicians posted to the Ministry of Power in the last two decades.

“Most of them reportedly leave office with one anti-graft case or another, and they consistently fail to provide Nigerians with the electricity needed for industrial and economic growth.”

The national coordinator, criticized the President Tinubu for appointing a politician with no expertise in power management to such a strategic role, stating that electricity is the backbone of Nigeria’s economic advancement, small and medium-scale enterprises, and infrastructure development.

“We do not understand why President Tinubu considers it useful to have someone who brings nothing to the table as the Minister of Power.

“Electricity powers economic advancement. It drives small and medium-scale enterprises and is the engine of the nation in terms of infrastructure and capacity building.

“Appointing a round peg in a square hole for such a critical ministry is the greatest disservice this government has done to Nigeria,” Onwubiko added.

HURIWA pointed out that the government’s excuses for the grid collapses have consistently failed to align with the realities on the ground.

“For every failure, explanations of ‘system disturbance’ or infrastructure challenges are trotted out, but there has been no clear action plan to prevent further collapses.

“Historically, Nigeria’s power grid failures have been a recurring nightmare, with the grid collapsing multiple times each year.

“Under President Tinubu’s administration, the trend has worsened. In 2024 alone, the grid has collapsed seven times, worsening an already dire economic situation. Under the current government’s tenure, Nigerians have seen increased power outages, higher electricity tariffs, and little to no improvement in supply,” the organization noted.

October 15, 2024
FG fears grid collapse as power generation hits 5,313MW

Nigeria’s power generation rose to a three-year high of 5,313mw on Monday, the Ministry of Power has said. This is contained in a staement issued by Mr Bolaji Tunji, Special Adviser on Strategic Communication and Media Relations to the Minister of Power , Mr Adebayo Adelabu.

Adelabu, therefore urged Electricity Distribution Companies (DisCos) to take more energy in order to prevent a grid collapse.

”When power is produced and not picked by the DisCos, it could lead to grid collapse as frequency drops. Efforts will be made to encourage industries to purchase bulk energy,” he said.

Recall the federal government had pledged to generate 6,000 megawatts of electricity before the end of the year. During his ministerial address in Abuja while presenting achievements of his ministry since President Bola Tinubu assumed office on May 29, 2023, Adelabu, said the country’s power generation rose to 5,000MW on May 3.

Adelabu vowed that power generation in Nigeria would hit 6,000MW before the end of this year, going by the improvements he said recorded in the sector in 2023.

September 4, 2024
FG to invest $800m in power sector

The Federal Government says it plans to invest 800 million dollars in the construction of sub-stations and distribution networks as part of the Presidential Power Initiative (PPI).

This is contained in a statement issued by Mr Bolaji Tunji, the Special Adviser, Media and Strategic Communication to the Minister of Power in Abuja on Sunday.

Tunji said the Minister of Power, Mr Adebayo Adelabu said this during a tour of the TBEA Southern Power Transmission and Distribution Industry in Beijing, China.

He said that the minister was in Beijing for the China-Africa Cooperation Summit.

Adelabu said that the investment would be divided into two lots: 400 million dollars for Lot 2, covering Benin, Port Harcourt, and Enugu Distribution Companies (DISCOs) franchise areas, and 400 million dollars for Lot 3, covering Abuja, Kaduna, Jos, and Kano DISCOs franchise areas.

The minister expressed concern over the rejection of power by Electricity Distribution Companies (DISCOs), which recently led to a reduction in generation capacity from a peak of 5,170 megawatts by 1,400 megawatts due to their inability to manage the supply.

He said that in spite of the setback, the government aimed to increase power generation to 6,000 megawatts by the end of the year.

Adelabu reaffirmed the government’s commitment to collaborating with world-class organisations like TBEA to realise President Bola Tinubu’s vision for the power sector.

”Especially in the areas of transmission and distribution of the entire power sector value chain as well as Nigeria’s renewable energy segment.”
Adelabu said that Nigeria had in 1984 generated 2,000 megawatts, and it took over 35 years to add another 2,000 megawatts.

He said that under the current administration, power generation increased from 4,000 megawatts to 5,170 megawatts within a year.

The minister speaking on the problems in the power sector which had hindered industrial growth, said this was due partly to the fragility of the Transmission and distribution infrastructure which had become old and dilapidated.

“This has led to historical epileptic supply of Power to households, industry and businesses.

“More than 59 per cent of industries in Nigeria are off the grid. They did not see the national grid as reliable and dependable. So a lot of them now operate their own captive, self-generated power, ” he said.

Adelabu said that the present administration was determined to transform the power sector, adding that a lot of activities had started that were gradually bringing back confidence in the sector.

“When this administration came on board in 2023, we met about 4 gigawatts (4,000 megawatts) of power but within a year, we were able to generate a milestone of 5,170 megawatts.

”That is about 1, 000 megawatts of power within the first year. It may look small, but compared to the history of the country, this is commendable”.

”Our plan is by the end of the year, we aim to achieve 6,000 megawatts of power through a combination of hydro electric power plants and our gas- fired power plant.

”We are also targeting 30 gigawatts of power to be generated, transmitted and distributed by year 2030 out of which 30 per cent will be renewable energy,” he said.

On the construction of the super grid, the minister said the national grid in its present state could not support the vision for the power sector.

“If we look at the strength, the capacity and the age of our existing network on the national grid, it cannot really support our vision for the power sector, hence the need for the construction of the Western and Eastern super grid.

”Though we have been on this since my assumption of duty, I can also tell you that the president is in full support of this because it will improve our transmission network.

“It will also stabilise the grid and also expand the capacity and the flexibility of the grid as 90 per cent of the approval required is in place and will be concluded soon,” he said.

The statement also quoted the President of TBEA, Huang Hanjie as assuring the audience of the organisation’s continued support for Nigeria’s government vision for the power sector.

He said TBEA operates across 100 countries in the world and would be willing to share its experience in the provision of energy.

“The company is not new in Nigeria, it is presently working with the Omotosho, power plant, Ondo State, owned by the Niger Delta Power Holding Company (NDPHC).”

Hanjie also commended the minister for the improved power sector as evidenced in improved generation and transmission since his assumption of office.

He said that TBEA would be willing to work with the Nigerian government to achieve its vision and contribute to the ongoing power sector revolution in the country.

September 1, 2024
Adelabu reveals whopping sum needed to revive power sector

The Minister of Power, Mr Adebayo Adelabu says the Federal Government requires 10 billion dollars investment yearly, to revive the power sector for the next 10 years.

Adelabu said this in Abuja on Monday, at a one day investigative hearing on halting the electricity tariff increase by the Nigerian Electricity Regulatory Commission (NERC) organised by the Senate Committee on Power.

“For this sector to be revived, government need to spend nothing less than 10 billion dollars annually in the next 10 years.

“This is because of the Infrastructure requirement for the stability of the sector, but government can not afford that.

“And so we must make this sector attractive to investors and to lenders.

“So for us to attract investors,and investment, we must make the sector attractive, and the only way it can be made attractive is that there must be commercial pricing,” he said.

Adelabu added:“If the value is still at N66 and government is not paying subsidy ,the investors will not come.

“But now that we have increased tariff for a Band, there are interest been shown by investors.”

The minister said the major challenge in the sector was absence of liquidity, saying that the sector had been operating on a subsidised tariff regime,given the absence of a cost reflective tariff.

He said that the subsidy had not be funded over the years as huge liabilities was being owed the Generating Companies ( GenCos) and the Gas Companies.

Adelabu said the inability of the government to pay the outstanding N2.9 trillion subsidy was due to limited resources, hence the need to evolve measures to sustain the sector.

He appealed to the lawmakers to support the process of paying the debt owed operators across the value chain of generation, transmission and distribution.

“The increase is based on supply, saying that any customer that do not received 20 hours power supply will not be made to pay the new tariff,” he said.

He said the government was committed to ensuring sustainable reform in the sector, saying that there was need to clear the outstanding debt owed GenCos and Gas companies.

To improve power supply, he said government was investing in hydro electric power, adding that construction of 700 mega watt power in Zungeru had commenced, while Kashimbila Hydroelectric power plant of 40 mega watt was awaiting evacuation to improve generation.

The minister said there was also an on going investment of 26 small hydro power dams to boost electricity production across the country.

However, members of the committee in their separate remarks decried the experiences of Nigerians on electricity supply over the years, despite the unbundling of the sector.

Sen. Lola Ashiru, the Vice-Chairman of the committee said Nigerians were paying for inefficiency of power sector operators.

Ashiru said there was a lot of inefficiency across the value chain of generation, transmission and distribution..

He said poor Nigerians must be protected, adding that there was a need to consider a reversal of the tariff increase.

Sen.Solomon Larlong said there was no consultation, before the increase, adding that issues of palliative should have been discussed and provided before the tariff increase.

Sen .Enyinnaya Abaribe, the Chairman of the Committee said what Nigerians wanted was a solution to the issues and ways to ensure liquidity in the sector.

He also decried the non appearance of a company “ZIGLAKS” over the failed agreement to provide prepaid meters for Nigerians.

He alleged that the company had received N32 billion in 20 years to meter Nigerian electricity consumers.

Sen.Adamu Alero said due consultation was not made before the tariff increase.

He said the public was not at peace with the increase, saying that the increase was over 200 per cent, hence the need for a reversal of the tariff increase.

Some stakeholders at the event included the Nigerian Electricity Regulatory Commission (NERC), Manufacturers Association of Nigeria (MAN), Association of Power Generation (Gencos) and Electricity Distribution Companies (DisCos).

April 30, 2024
Abbas laments as Power Minister blames cartels for erratic electricity supply

The Minister of Power, Mr Adebayo Adelabu, has decried the activities of saboteurs and cartels in the electricity sector, blaming them for the incessant power outages in the country.

Adelabu expressed this during a programme tagged “Confronting Nigeria’s Power Challenge as the Nation Migrates to a Multi-Tier Electricity Market” on Tuesday in Abuja.

The programme was organised by the House of Representatives Committee on Power.

The minister said saboteurs and cartels perpetrated evil for their selfish interests in order to frustrate efforts at ensuring stable electricity supply in the country.

“We have saboteurs, cartels, and those who prefer to perpetrate evil for their selfish interests to frustrate our efforts,” Adelabu said.

He said all efforts must be geared towards propelling the country to the league of productive nations, adding that Nigeria was looking at reserves that would eliminate incessant power collapse.

He said the Federal Government was considering the liberalisation of the power sector.

“We also encourage the state government to invest in power generation in their states, ” the minister said.

Adelabu listed Abia as one of the states that had invested in power, adding that the Federal Executive Council (FEC) had also granted Ekiti and Enugu State the right to generate tariffs.

The minister said it was worrisome that a lot of investors did not come with their private equity, but had to borrow money from the bank to operate in the sector.

He, however, said that with time, investors would be made to operate the right way for the benefit of the sector.

The minister also said that FG was looking at deepening rural electrification, adding that it would be done in collaboration with the state governments.

Adelabu said there were over 100 uncompleted power projects across the country, adding that those projects would not be energy-efficient without being completed.

Speaking, Mr Kola Adeshina, Group Managing Director, Sahara Power Group, expressed the regret that Nigeria could not supply electricity efficiently in spite of its abundant gas resources.

He said if electricity was not a priority in budget provision, it would be difficult for the country to work.

Adeshina said Nigeria had the resources to double its power generation.

“If the executive brings an appropriation bill before you(lawmakers) and the power sector is not number two after defence, then don’t allow it.” he said.

He urged government to prioritise industrial areas in power distribution.

“After the industrial areas have had light during the day, we can shift power at night to residential areas because production takes place during the day.

“Let’s sequence our investment along the line of value-added. Nigerians are resilient, we are strong, and we have tenacity. Nigerians are tired of power collapse,” he said.

Speaker Abbas laments challenges in power sector

Meanwhile, the Speaker of the House of Representatives, Rep. Tajudeen Abbas say the power sector is grappled with challenges that have stifled its growth and efficiency.

He said this at a two-day interactive dialogue/workshop by the House of Representatives Committee on Power in Abuja on Tuesday.

Abbas listed the challenges to include inadequate generation capacity, dilapidated infrastructure, frequent disruptions in power supply, and financial inefficiencies that had eroded the sector’s viability.

He also said that the inadequate metering and the consequent revenue lost had perpetuated a cycle of debt and underinvestment that had undermined the sector’s potential.

He said that there was need to foster collaborative efforts that would leverage both public and private sector expertise and resources.

“This dialogue embodies such collaboration and is crucial in charting a forward path. The shift towards a multi-tier electricity market represents a strategic pivot in our approach to power sector reform,” he said.

He said that the model envisaged a structured market segmentation that allowed for differential pricing and service levels tailored to diverse consumer needs and capacities.

“It promises enhanced efficiency through competitive practices, encourages investment by delineating clear market segments, and improves reliability and service delivery across the board.

“There is the likelihood of improved reliability and quality of service, especially for high-demand users willing to pay more, thus indirectly benefiting the standard service tiers through reduced load.”

He said that in spite of the much-touted benefits, the transition to a multi-tier market was challenging, adding that it included regulatory complexities, the need for substantial capital investment

Others included the risk of market segmentation leading to disparities in service quality, and resistance from different stakeholder groups due to changes in tariff structures.

“Our commitment to transforming the Nigerian power sector into a model of efficiency and sustainability is unwavering,” he said.

Rep. Victor Nwokolo, the Chairman, House Committee on Power, said it was aimed at providing a dynamic platform for stakeholders to evaluate the progress made thus far in the Nigerian Electricity Supply Industry (NESI)’s development.

“We will delve into the successes, challenges, and opportunities encountered along this journey, seeking to identify key areas for improvement and innovation.”

He said that continuous engagement with all stakeholders was critical to ensuring that the reforms met the diverse needs of the population and maintain public trust.

He said that the workshop would serve as a platform for stakeholders to explore innovative solutions to the persistent challenges plaguing the power sector.

April 24, 2024
Private sector messed power supply up in Nigeria – Adelabu

Minister of Power, Mr Adebayo Adelabu, says the Federal Government plans to increase power generation from 4000 Megawatts to 6000 by the end of 2024.

Adelabu said this in Abuja on Monday when the members of the Senate Committee on Power visited the ministry.

The minister said the Federal Government plans to achieve the 6000 megawatts of power using the hydro and solar plants to increase supply of electricity to households and businesses.

He described as unfortunate and sad, a situation where the highest electricity currently being generated stood at only 5800 megawatts.

“The infrastructure are lying there, without adequate maintenance, the turbines are rusting away.

”With proper investment put in place, we can generate 6000 megawatts before the end of 2024,” he said.

The minister also said that the Federal Government was going to transform the Electricity Distribution Companies, (DisCos) adding that they were the last mile in the power supply industry.

According to him, if they don’t perform, it means the entire power sector is not performing.

“We are putting pressure on the Nigerian Electricity Regulatory Commission (NERC) to ensure that the DisCos sit up and if they have to withdraw their licenses for not performing, why not?

“We are unbundling the DisCos along state lines as some of them are too big for efficiency and effectiveness.

“Some of them are serving so many states, so we are rearranging and restricting the DisCos along state lines, so that each state government will know the distribution company responsible for their states,” he said.

The minister said it was time the federal and state governments started exercising their rights in the management and operations of the power sector.

“We have left it for the private sector for too long and they have messed it up.

“We also plan to franchise the DisCos so that we can have smaller DisCos that are ready to invest,” he said.

Earlier, Sen. Eyinnaya Abaribe, Chairman of the Committee, had said that they were in the ministry for an oversight function.

Abaribe said that the oversight visit became necessary to find out the challenges that had led to poor supply of electricity to Nigerians and also the reasons for the consistent collapses of the national grid.

He said the committee, in pursuant to the rules and regulations of the National Assembly, had already invited the ministry of power and its parastatals for an investigative hearing on the increase in tariff by April 29.

Abaribe said, “This is with regards to payment for power by Nigerians, so, we won’t want to discuss that before the date.”

”’The committee has already invited the minister and his agencies to discuss the issue of increase in tariff extensively with the committee,” he said.

April 23, 2024
Power Minister gives condition for electricity tariff to drop

Minister of Power, Adebayo Adelabu has said the Naira continuing to appreciate against the Dollar is the only condition for electricity tariff to drop in the country.

TheNewsGuru.com (TNG) reports Adelabu to have said the government has about N1.8 trillion to pay in electricity subsidy this year 2024.

The Minister of Power made these known when he featured as a guest on Channels Television’s Politics Today programme on Thursday.

According to the Adelabu, the Federal Government is still paying subsidy on electricity despite the recent hike in tariff paid by Band A customers.

He insisted that the Electricity Act, 2023 made provisions for the review of tariff twice a year.

Adelabu said by cutting down the inefficiencies of some operators in the sector, couple with the gains by the naira against the dollar in the last few weeks, tariff paid by Nigerians should moderate positively.

“The tariff is flexible and I can tell you that even if naira gains more and the exchange rate comes down below N1,000, it must positively affect the tariff and the tariff even for the Band A will come to down below the N225 kilowatt per hour that we are currently charging.

“The fact that the tariff for Band A, which is 15% of the total consumers will increase by over 200%, does not necessarily translate into 200% increase in their electricity bill if power is properly managed in terms of consumption.

“As it is today, looking at a total production, transmission and distribution cost, the Nigerian Government is bearing 67% percent of that cost before the increase in tariff for Band A customers. But when you look at generation cost, the Nigerian Government is paying 90% but in terms of total subsidy, it is about 67% of subsidy on the tariff.

“Last year, it was about N720bn which was not fully funded, we have about N305bn carried into this year. If we retain tariff at the current level, the Nigerian Government will be needing about N2.9trn to subsidise electricity but with the increase for Band A customers, we are going to have a reduction of about N1.1trn. So, we are looking at about N1.8trn in subsidy,” the Minister said.

The minister assured Band A customers of value for their money. He also assured Nigerians that consumers on other bands won’t be shortchanged by distribution companies as the regulators won’t hesitate to wield their big stick on any of such discos.

He also said the government has shifted its attention on discos inefficiently ran and won’t hold back in taking the appropriate steps in the interest of consumers.

The minister further said the government has been working on ramping up power generation from about 4,000 megawatts to 6,000 megawatts in the next six months. He said 25% of Nigeria’s power generation is from hydroelectric power while the remaining 75% is from gas plants.

The minister said “the gas that is supposed to be the raw material has not been coming in adequate proportion” but the government has been working with electricity generation companies to ramp up power generated for the benefit of Nigerians.

Recall that the Nigerian Electricity Regulatory Commission (NERC) had on April 3, 2024 raised electricity tariff for customers enjoying 20 hours power supply daily. Customers in this category are said to be under the Band A classification.

The increase will see the customers paying N225 kilowatt per hour from the current N66, a development that has been heavily criticised by many Nigerians, considering the immediacy of the tariff hike and the current hardship in the land.

Human rights lawyer, Femi Falana, had said the increase in tariff paid by Band A consumers was illegal.

“Review of tariff is actually legal once it is within the exclusive responsibility of the Nigerian Electricity Regulatory Commission (NERC). The Act actually provides for review twice in a year, every six months,” Adelabu said.

April 12, 2024
FG addresses power deficit using alternative sources

The Minister of Power, Mr Adebayo Adelabu says the Federal Government is addressing power deficit by using alternative energy sources, such as windfall, solar and mini-grids.

Adelabu, represented by Mr Abdulrasheed Lawal, Director Procurement, Ministry of Power said this in Abuja on Wednesday at the presentation of the proposed 30 Megawatts (MW) Windfall And Solar Hybrid Project at Lekki, Lagos.

The project after necessary appraisal would be executed by Crown Resources Development Company Limited (CREDCO) in collaboration with Vergnet a French Wind Turbine Company, based in France.

He said,” We are aware that presently there is energy deficit in the country, so we are doing everything possible to address the issue by investing in alternative sources.

”We have to think out of the box to achieve energy sufficiency; we have to look at using mini-grids, solar and wind to achieve this.

”We are already doing 10MW using Windfall in Katsina and we are trying to replicate same in Lagos in order to ensure reliable and steady power supply in the country,”he said.

On his part, Mr Barney Ojiah, Chief Executive Officer of CREDCO, said that they were in the ministry of power to make a presentation on the project and to discuss how to further improve power supply for Nigerians.

He emphasised that power was important in the lives of all Nigerians no matter how it comes.

”This is a collaborative effort between the ministry of power and CREDCO on how to achieve reliable and steady power supply,”he said.

Also, Mr Frederic Cheve, Subsidiaries Manager, Africa, Vergnet while making his presentation said that the project was a renewable and innovative solution to Lagos energy need.

According to him, the project aims to harness the abundant wind and solar resources to generate clean and reliable power while mitigating the risks associated with relying on a single source of energy.

He said that the proposed capacity of the project was 20/30 megawatts wind and solar hybridised system.

Cheve, who said the project would be developed in phases, added it would have a number of significant benefits for Lagos and the country.

He listed the benefits to include improved energy security and grid stability.

”It will create green jobs and boost the local economy, reduce the reliance on fossil fuels and curtail greenhouse gas emissions.

”This project will contribute to achieving Nigeria’s national energy goals,”he said.

Cheve further said the project aligned with President Bola Tinubu’s Presidential Power initiative (PPI) which aimed to add 12,000 MW of electricity to the national grid and to provide 24 hours electricity for Nigerians.

”The project is in line with the renewable energy plan that is based on Nigeria’s commitment to carbon neutrality by 2060,”he said.

March 14, 2024