- Minister Adebayo Adelabu has received a new National Electricity Policy draft to reform Nigeria’s power sector.
- Nigeria plans to increase power generation to 6,000 megawatts while grappling with recent electricity tariff hikes.
Adelabu noted that the policy seeks to ensure equitable access to electricity for all Nigerians, particularly in underserved areas, foster a conducive environment for investment, and promote the integration of renewable energy sources. The initiative comes as the Nigerian power sector faces significant challenges that have hindered electricity generation and affected industrial growth.
The Minister also revealed plans to increase power generation from 4,000 to 6,000 megawatts over the next six months. Currently, 25% of Nigeria’s power is sourced from hydroelectric plants, and the remaining 75% comes from gas-fired power plants.
In a related development, the Nigerian Electricity Regulatory Commission (NERC) raised electricity tariffs on April 3, 2024, for customers receiving 20 hours of power supply daily. The new tariff for these Band A customers is now N225 per kilowatt-hour, up from N66, a move that has faced significant backlash from Nigerians struggling with economic hardships.
Minister of Power Adebayo Adelabu has received the National Integrated Electricity Policy and Strategic Implementation Plan draft, a key document designed to overhaul Nigeria’s electricity sector. Adelabu announced in Abuja on Wednesday, August 28, 2024, that the draft will be presented to the Federal Executive Council (FEC) within six weeks.
The National Integrated Electricity Policy and Strategic Implementation Plan, developed with input from industry experts and stakeholders, aims to tackle systemic issues within the power sector. It includes proposed interventions across the power value chain covering generation, transmission, distribution, and off-grid segments.
Adelabu noted that the policy seeks to ensure equitable access to electricity for all Nigerians, particularly in underserved areas, foster a conducive environment for investment, and promote the integration of renewable energy sources. The initiative comes as the Nigerian power sector faces significant challenges that have hindered electricity generation and affected industrial growth.
The Minister also revealed plans to increase power generation from 4,000 to 6,000 megawatts over the next six months. Currently, 25% of Nigeria’s power is sourced from hydroelectric plants, and the remaining 75% comes from gas-fired power plants.
In a related development, the Nigerian Electricity Regulatory Commission (NERC) raised electricity tariffs on April 3, 2024, for customers receiving 20 hours of power supply daily. The new tariff for these Band A customers is now N225 per kilowatt-hour, up from N66, a move that has faced significant backlash from Nigerians struggling with economic hardships.