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MINISTER OF POWER
The Federal Government has announced plans to actively engage communities across Nigeria in efforts to curb the rampant vandalism of electricity assets, a major cause of grid collapses.
The federal government has announced that it has settled N205 billion out of the N1.3 trillion owed to Generation Companies (Gencos) in a bid to improve liquidity in the power sector.
The Federal Government has set aside N120 billion as the first tranche of the Presidential Metering Initiative (PMI).
The federal government has repeatedly stated its ambition to increase power generation in the national grid from approximately 4,500MW to an unprecedented 6,000MW by the end of 2024.
The Minister of Power, Adebayo Adelabu, stated that the rise in electricity tariffs for Band A customers is a temporal hardship pending an increase in power sector output.
The Minister of Power, Adebayo Adelabu, has said that prior to the introduction of the upwardly revised electricity tariff the federal was subsidizing about 67% of the power sector, which was expected to amount to N2.9 trillion by the end of 2024.
The Minister of Power, Adebayo Adelabu, has confirmed the Federal Government’s strategy to escalate the electricity generation capacity from 3,500 megawatts to 6,500 megawatts within the next three to six months.
The federal government has launched the mass metering program for Nigerian Army facilities nationwide, committing to eliminate estimated billing in the electricity sector.
The federal government has threatened to revoke the licenses of power distribution companies (DisCos) over the incessant power shortage nationwide.
The Minister of Power, Adebayo Adelabu has mooted the idea of creating legislative measures to ensure gas payments are made in naira in the power sector.
The Federal Government has attributed the recent electricity dip to the partial shutdown of the Obem gas plant.
With the reduction in hydro capacity during the dry season, additional load needs to be taken up by our gas plants.