FG Earmarks N340bn for Power Sector Infrastructure Upgrade: Addressing Nigeria’s Electricity Supply Challenges

President Bola Tinubu has set aside N340bn for power infrastructure upgrades across the country. This announcement was made by the Chief of Staff to the president, Hon. Femi Gbajabiamila, during the commissioning of the 220MVA substation at Randle Avenue in Surulere, Lagos State.

According to Gbajabiamila, the fund was earmarked in the 2024 budget, with President Tinubu’s commitment to providing reliable power supply to the nation.

He emphasized that access to electricity is a fundamental right that drives productivity, fosters innovation, and improves the quality of life for all citizens.

The development comes after the Power Minister, Adebayo Adelabu, threatened to sanction non-performing power distribution companies (DisCos) over their inability to deliver quality power supply despite significant investments by the government.

Adelabu warned that one of the potential sanctions for willful non-performance could be a revocation of the DisCos’ licenses.

In a recent meeting with the Chief Executives of some DisCos and the Managing Director of the Transmission Company of Nigeria (TCN), Minister Adelabu expressed his deep concern about the deteriorating electricity supply across the country.

He acknowledged that despite increased generation to over 4000MW, certain distribution companies are failing to adequately distribute the power supplied by TCN.

To address these issues, the government is committed to holding all distribution companies accountable for their performance.

This includes addressing issues such as vandalism of power infrastructure in regions like Abuja, Benin, Port Harcourt, and Ibadan.

The government is also working to settle outstanding debts owed to power generation and gas supply companies, which will alleviate financial strain and contribute to improved generation levels nationwide.

As Nigeria continues to work towards improving its power sector and providing reliable electricity to its citizens, it is essential for electricity consumers to remain patient and supportive of the government’s efforts.