The Federal Government has said that the need to ensure stable and predictable power delivery was the reason it gave priority to investments in key infrastructure in the sector.
Chief Adebayo Adelabu, the Minister of Power,disclosed this on Monday at a Expert Forum on “Uninterrupted Power: The Industrial Imperative”, organized by the Nigeria Economic Summit Group (NESG).
He said:”We are acutely aware of the cost pressures faced by businesses as a result of inadequate and unreliable grid supply.
“This is why the government is prioritizing strategic investments in key infrastructure to ensure stable and predictable power delivery, particularly to commercial and industrial customers who are willing to pay for availability, reliability, and quality of supply.”
He hinted that the government is implementing the Light Up Nigeria project, which has already been launched in Agbara Industrial hub in Lagos State and Enugu State, is expected to boost industrialization and economic growth.
He noted that the government is pursuing a comprehensive, multi-pronged approach to reposition the Nigerian power sector for sustainability, efficiency, and growth.
He added:”Currently, the Federal Government is pursuing a comprehensive, multi-pronged approach to reposition the Nigerian power sector for sustainability, efficiency, and growth.”
He also said the government has introduced targeted national programmes aimed at accelerating the viability, expansion, and modernization of the national grid.
He explained that under the phase zero of the Presidential Power Initiative (PPI), the government enhanced transmission capacity, grid stability, and overall system reliability, with over 700MW of additional transmission capacity already achieved.
He lauded the NESG for its consistency and commitment in organizing the summit, which he said remained a credible platform for shaping national discourse, generating practical policy recommendations, and driving reforms across key sectors of our economy.
He implored the group to consolidate the forum’s outcomes into a policy memo summarizing key consensus points and proposed follow-up actions for continued collaboration with government.