The Minister of Power, Mr. Adebayo Adelabu, has disclosed that the power sector generated an additional N700 billion in revenue in 2024.
The Federal Government has said it needs $10 billion in private investment in the power sector, over the next five to 10 years, to achieve 24-hour power supply.
The Federal Government has commenced the unbundling process for the 11 electricity distribution companies (DisCos) along state lines for better efficiency.
TCN says the Minister of Power, Adebayo Adelabu, held meetings with Generating Companies (GenCos) and Gas Companies (GasCos) to secure a higher volume of gas supply and consistency for enhanced power generation.
Mr. Adebayo Adelabu has ordered an investigation into the five-year extension of license for electricity distribution companies after the elapse of their initial ten-year license from 2013 to 2023.
Mr. Adebayo Adelabu has called on the GENCOs and the DISCOs, to improve their performance to improve electricity.
