In the Nigeria International Energy Summit (NIES) held in Abuja, the Federal Government acknowledged that the abysmal level of power supply in the country is denying citizens the opportunity to live a good life.
Minister of Power, Chief Adebayo Adelabu, stated that the government is taking necessary steps to improve power supply across the country.
During the electricity and energy access session at the summit, Chief Adelabu mentioned that with the 700 MW Zungeru Hydro set to join the grid in the next two weeks and work ongoing to complete evacuation infrastructure for the 40MW Kashimbilla Hydro, power supply through the grid would steadily improve.
The government is also working to put in place gas supply contracts for the power plants under the National Integrated Power Projects (NIPP), managed by the Niger Delta Power Holding Company (NDPHC).
Chief Adelabu emphasized the need for patience on the part of Nigerians, as the problems affecting the industry have been properly diagnosed and solutions are being implemented.
He highlighted that transforming the power sector especially in Nigeria's clime requires a lot of investment and the sector must be attractive for equity investment and debt capital.
The Secretary to the Government of the Federation, Senator George Akume, assured participants that the Federal Government would work to ensure that the head office of the Africa Energy Bank is located in Nigeria.
He commended participants for their efforts and ideas and pointed out that the summit provided a platform for stakeholders to engage in meaningful discussions on innovations, policies, advancements, and the overall trajectory of the energy sector in Nigeria.
The poor power supply in Nigeria has hindered the country's economic growth and industrial development, denying its people access to a good life.
The government is working to improve the power supply situation, and the collaborative efforts initiated during the summit are expected to yield tangible results in the days and years to come.
