Power/Energy

Kaduna, May 14, 2025 – Adebayo Adelabu, the Minister of Power, says Nigeria needs $10 billion annually for 20 years to have stable power supply. Adelabu said this in Kaduna on Tuesday after inaugurating the 2.5mw solar hybrid power project at the Nigerian Defence Academy (NDA). He told journalists that Nigeria would need annual investments of $10 billion in the power sector for 20 years to bridge the infrastructure deficit which had lasted for over 60 years due to lack of maintenance and additional investments. “For us to achieve functional, …

Abuja, May 5, 2025 – The Federal Executive Council (FEC) has ratified the National Integrated Electricity Policy to boost power generation and supply across the country. FEC approved the policy, which was first submitted in December 2024, at its meeting on Monday. The policy is intended to attract $122.2 billion in investments to the power sector to boost electricity through some sweeping reforms. The policy outlines a sweeping reform agenda for the electricity sector, aligning with national development goals and global best practices, as required by Section 3(3) of the …

Abuja, May 5, 2025 – President Bola Tinubu is to hold an emergency meeting with the power generating companies (Gencos) to address N4 trillion debt threatening electricity supply in the country. Bolaji Tunji, a Special Adviser to the Minister of Power, Adebayo Adelabu, disclosed this in a statement. He said the Federal Government had promised to address the debt issue urgently following a meeting between the minister and some Chairmen of GenCos in Abuja last Tuesday. The statement quoted the minister as assuring the GenCos that the government would prioritise …

Madrid/Lisbon, April 28, 2025 – A huge power outage hit large parts of Spain and Portugal on Monday, paralysing traffic, grounding flights, trapping people in elevators and leaving power operators scrambling to restore power to millions of homes and businesses. Some hospitals halted routine work and the two countries’ governments convened emergency cabinet meetings, with officials initially saying a possible cyber attack could not be ruled out. Outages on such a scale are extremely rare in Europe, and the cause could not immediately be established. Reuters witnesses said power had …

Abuja, April 14, 2025 – The federal government is to secure $2.3 billion fund to revamp the transmission segments of the nation’s power sector. Adelabu disclosed this while speaking with Gautier Mignot, the European Union (EU) Ambassador to Nigeria, during a meeting in Abuja last weekend.. He described the intervention as one of the viable improvements since the new administration came into power. The minister said the pilot phase of the Siemens Presidential Power Initiative (PPI) had reached 90 per cent completion and the milestone marked significant progress in the …

Abuja, April 14, 2025 – Adebayo Adelabu, the Minister of Power, has appealed for more financial support from developed countries to mitigate the negative effects of the sliding crude oil prices. He said the sliding prices of crude oil would impact negatively on Nigeria’s ability to effectively fund its infrastructure projects. The minister made the appeal last weekend while receiving the EU Ambassador to Nigeria, Gautier Mignot, in his office in Abuja. He decried the negative effects of the continuous slide in the price of crude oil, which he said, …

Accra, March 28, 2025 – Ghana has selected the United States and China as vendors for its first nuclear power plants, though no formal contract has been signed. The U.S.-based NuScale Power and Regnum Technology Group, in partnership with Japanese firms, will construct Small Modular Reactors (SMRs), while China National Nuclear Corporation will build a Large Reactor (LR). This was disclosed by Dr. Stephen Yamoah, Executive Director of Nuclear Power Ghana, to the Ghana News Agency on the sidelines of a media engagement in Accra. He said LR will have …

Abuja, March 25, 2025 – Electricity Distribution Companies in Nigeria collected ₦509.84 billion revenue from customers from the ₦658.40 billion billing in the fourth quarter of 2024. The Nigerian Electricity Regulatory Commission (NERC) disclosed this in its 2024 Fourth Quarter Report published on its website. The report said the revenue collection translated to a collection efficiency rate of 77.44 per cent. NERC said the DisCos collected ₦466.69 billion in the third quarter of 2024 from the ₦626.02 billion billed, resulting in a 74.55 per cent collection efficiency rate “Eko DisCo …