FG eyes $20m power sector investment, targets 20,000MW in three years

Date:

Share post:

Adebayo Adelabu, the Minister of Power, says the government is targeting a $20 million investment to ramp up power generation to 20,000 megawatts by 2026.

He disclosed this on Tuesday at the ongoing Nigeria Energy Conference.

He noted that if the country cannot transmit 80 to 85 per cent of its generated power to electricity customers, the situation amounts to a waste of investments.

Adelabu said the government and stakeholders within the power sector must work assiduously towards eliminating the 8 million metering gap in Nigeria.

He said: “If we cannot transmit 80 to 85 per cent of the generated power to customers, then we are wasting investments. We must invest in metering technology; if we can eliminate the 8 million metering gap in Nigeria and develop technology to ensure that collections are monitored, and we can collect up to 90 per cent of power distributed, liquidity is assured in this country.

“The Nigerian government is actively advancing the power sector through various measures. With a $20 billion investment plan, new power plants and transmission lines are set to be established to boost power generation and grid stability”.

His comment comes on the heels of the resurgence in the national grid collapse.

It wasreports that the grid had collapsed three times in less than a week.

60 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

Nigerian Record Holder Plans Another Attempt at Global Recognition

A Nigerian youth and record holder, Saidu Abdulrahaman from Yobe State, is preparing to attempt a new Guinness...

Cholera death toll hits 40 in Borno

At least, 40 people have died following a cholera outbreak that has swept across seven Local Government Areas...

24 Hours Without a Doctor: Patient Kept Alive Through Video Consultation, Kaitafi Claims

A Yobe-based politician and philanthropist, Sani Ahmed Kaitafi, has raised concerns over the treatment of patients at General...

From Insurgency to Stability: How Yobe Changed Under Buni in Seven Years

Seven years after Governor Mai Mala Buni assumed office in Yobe State, his administration says improved security and...