Power
ADEBAYO Adelabu, minister of power, has received accolades from power sector stakeholders over the improvement in electricity supply in recent time.
In an interview session with newsmen on Tuesday, the stakeholders acknowledged several key accomplishments of the Minister between 2023 and the present which have significantly advanced the nation’s power sector. They cited the present addition that has brought generation to 5000 MW peak in May 2024, the highest in three years.
Tunde Olaoshebikan, national coordinator, Peoples Right Agenda (PRA), speaking on behalf of the stakeholders noted that President Bola Ahmed Tinubu has been vindicated with the choice of Adelabu as power minister. He cited increased Grid Generation Capacity with the addition of 700 MW to the national grid with the commissioning of the 700MW Zungeru hydropower plant.
“He has also ensured the reform of the Transmission Company of Nigeria (TCN) by unbundling the TCN, creating a Transmission Service Provider (TSP) and an Independent System Operator (ISO) which will boost efficiency and transparency in the power sector”.
They equally commended the Minister for efforts aimed at defraying the debt burden which has been a major problem hampering efficiency in the power sector value chain. “He was able to secure presidential approval to defray legacy debts to gas companies and ensure efficient gas supply to the power sector. A payment mechanism has also been established to address Generation Companies’ debts, facilitating necessary maintenance and optimizing evacuation capacity”.
Looking ahead, the stakeholders noted that Adelabu has laid out ambitious plans for Nigeria’s energy transition. One of the plans, according to PRA is the Net Zero Carbon Emissions by 2060 which aims to steer Nigeria towards achieving net zero carbon emissions by 2060, aligning with global sustainability goals.
Other achievements of the Minister includes the $550 million Nigeria Electrification Plan which is expected to provide electricity to over 1.1 million households and facilities in underserved communities, significantly improving access to power. The procurement of additional two million meters annually for five years through the Presidential Metering Initiative(PMI), ensuring accurate billing, reducing revenue loss, and improving cash flow in the power sector. Recently, N20 billion was allocated for the procurement of meters for unmetered Band A customers which is expected to be implemented by the end of September.
Adelabu has also hinted at the approval of the new National Electricity Policy and Strategic Implementation Plan (NEPSIP) by September 2024. The policy is currently in the final stages of documentation.
“All these will definitely change the landscape in the Nigeria Electricity Supply Industry (NESI) when taken together. We realize that Adelabu is doing things differently in order to break the jinx of non performance in the sector which has held the sector to below 4000MW over the years.”, the group said.
A.I
June 11, 2024 @ 18:22 GMT|
Tags: Adebayo Adelabu President Bola Ahmed Tinubu Transmission Company of Nigeria Tunde Olaoshebikan
