- The Nigerian government has unveiled an ambitious $23.2 billion initiative aimed at addressing the country’s significant electricity shortfall and boosting renewable energy
- The National Energy Compact programme will mobilise $15.5 billion from private investors, focusing on last-mile electrification and infrastructure improvements
- Minister Adelabu stressed the importance of securing power assets amid rising attacks on transmission towers and distribution equipment, hindering the country’s power supply
In a bid to address Nigeria’s significant electricity shortfall, the Federal Government has launched a transformative energy access programme aimed at revolutionising the nation’s power sector.
The ambitious initiative, which has a target funding of $23.2 billion, seeks to drastically improve electricity access across the country and boost the share of renewable energy in the national power mix.
According to a statement from the spokesman for the Minister of Power, Bolaji Tunji, the programme, led by Minister Adebayo Adelabu, is designed to tackle Nigeria’s energy challenges and bring about sector-wide reforms.
A significant portion of the funds—$15.5 billion—will be sourced from private sector investments, marking a crucial step towards collaborative development in the energy sector.
Tunji explained that the programme, named the National Energy Compact, aligns with the objectives of the recently concluded Mission 300 Africa Energy Summit held in Dar es Salaam, Tanzania.
The summit, attended by African leaders, business executives, and international development partners, focused on accelerating energy access for 300 million Africans by 2030.
The National Energy Compact aims to achieve several key goals, including increasing electricity access from 4% to 9% annually, boosting access to clean cooking solutions from 22% to 25%, and expanding renewable energy’s share in power generation from 22% to 50%.
The programme will also mobilise $15.5 billion in private investment for last-mile electrification efforts, contributing to the global drive for universal access to modern energy services under the UN’s Sustainable Development Goal 7.
Unveiling the programme, Minister Adelabu emphasised that the government remains committed to achieving universal energy access by 2030.
He pointed out that while 150 million Nigerians are currently electrified, the path to nationwide access will require overcoming numerous challenges, including the persistent issue of infrastructure vandalism.
Adelabu expressed particular concern over the increasing attacks on transmission towers, pipelines, and distribution equipment, which have severely disrupted power supply and discouraged potential investors.
To combat this, the government is ramping up efforts to secure power assets, including enhanced security measures, stricter penalties for vandals, and the adoption of advanced surveillance technologies.
“Protecting power assets is essential to ensuring a steady electricity supply and fostering investor confidence,” Adelabu said, underscoring the importance of security in maintaining the momentum of Nigeria’s electrification efforts.
The programme also calls for substantial investment in expanding power generation capacity, fortifying transmission and distribution networks, and incorporating renewable energy solutions across the country.
The $23.2 billion funding target will play a critical role in strengthening Nigeria's energy infrastructure and accelerating the country’s transition to cleaner, more sustainable power sources.
Recognising the scale of the challenge, the government is appealing to development partners, philanthropies, and private sector stakeholders to join the initiative and contribute to the nation’s energy transformation.
“By implementing the National Energy Compact, Nigeria is positioning itself as a leader in Africa’s energy transition, creating opportunities for economic growth, job creation, and industrialisation,” Adelabu stated.
Despite being Africa's largest economy and home to over 200 million people, Nigeria’s energy sector remains plagued by underperformance, with the country currently generating just 4,500 megawatts of electricity.
National grid did not collapse, Adelabu clarifies cause of power outage
Meanwhile, TheRadar earlier reported that the Minister of Power, Adebayo Adelabu, claimed the power grid did not collapse. This counters earlier reports indicating that it had collapsed again on Tuesday amid ongoing restoration efforts following the initial breakdown on Monday evening.
Adelabu clarified that the incident was not a grid collapse but a line tripping in specific areas across the country during an interview on Tuesday, October 15.
