- The minister of power disclosed plans to improve the power sector during the Nigeria Energy Leadership Summit in Lagos.
- The power sector is expected to meet the energy target set for 2030 by utilising the landscape for industry players to meet economic needs.
The Federal Government has reiterated plans to improve the power sector. This improvement involves cutting down on the cost of operations for the Organised Private Sector(OPS), players in the informal segment, and manufacturers, among others.
The Minister of Power, Adebayo Adelabu, said the power sector is expected to meet the energy target set for 2030 by utilising the landscape for industry players to meet economic needs. He said the power sector would drive economic growth in informal markets and improve liquidity amongst critical players to achieve the energy target by 2030. He added that there is a need to make massive investments in the subsector for a prosperous energy future.
To achieve this, the minister called for improved liquidity amongst key players in the industry, noting that multi-sectoral players in the power sector must increase drive and sectoral growth to harness its potential. Adelabu disclosed this while speaking on the sidelines of the Nigeria Energy Leadership Summit in Lagos, stressing that energy must reach small businesses, institutions and businesses. He noted that stakeholders in the sector, particularly experts, must draw strategies to improve the sector’s liquidity.