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FG to Invest $800 Million in Power Infrastructure, Targets 6,000 MW Capacity by Year-End
The Federal Government has announced plans to invest $800 million in the development of substations and distribution networks as part of the Presidential Power Initiative (PPI).
This information was shared in a statement released by Bolaji Tunji, Special Adviser on Media and Strategic Communication to the Minister of Power, in Abuja on Sunday.
Tunji highlighted that the Minister of Power, Adebayo Adelabu, revealed the investment plans during his visit to the TBEA Southern Power Transmission and Distribution Industry in Beijing, China.
The minister is currently in Beijing attending the China-Africa Cooperation Summit, a platform focused on fostering collaboration between African nations and China.
According to Adelabu, the $800 million investment will be split into two equal parts: $400 million will go toward Lot 2, which encompasses the franchise areas of the Benin, Port Harcourt, and Enugu Distribution Companies (DISCOs), while the remaining $400 million will be allocated to Lot 3, covering the franchise regions of the Abuja, Kaduna, Jos, and Kano DISCOs.
Adelabu expressed concern over the frequent rejection of power by DISCOs, a situation that recently caused a significant decrease in Nigeria’s power generation capacity.
The peak generation of 5,170 megawatts fell by 1,400 megawatts due to the inability of distribution companies to efficiently manage the power supply.
Despite this challenge, the minister assured that the government is determined to boost electricity generation and aims to increase capacity to 6,000 megawatts by the end of the year.
He reiterated the government’s commitment to collaborating with international organizations like TBEA to fulfil President Bola Tinubu’s vision for improving the power sector, particularly in transmission, distribution, and the renewable energy segment.
Adelabu reflected on Nigeria’s past struggles with power generation, pointing out that the country was only able to increase its capacity from 2,000 megawatts in 1984 to 4,000 megawatts after more than three decades.
However, under the current administration, there has been notable progress, with power generation rising from 4,000 megawatts to 5,170 megawatts within just a year.
Addressing the long-standing challenges in the sector, the minister emphasized that the fragile and outdated transmission and distribution infrastructure has been a major obstacle to industrial growth.
This outdated system has contributed to the country’s unreliable power supply, affecting households, businesses, and industries alike.
Adelabu noted that more than 59% of industries in Nigeria have opted to remain off the national grid due to its unreliability.
Many of these industries have resorted to self-generation, relying on captive power sources to meet their energy needs.
This situation has further underscored the urgency of improving the country’s power infrastructure to ensure a reliable and sustainable electricity supply across the board.
Lagos State Police react to claims of them taking money from dispatch riders on the Coastal Road in Lagos.
It started after a rumour was shared that police arrest and take money from riders as a demand for high bribes, sometimes reaching ₦200,000, and seize motorcycles if not given.
The Police Public Relations Officer, SP Benjamin Hundeyin, then addressed the claims online and stated in his statement that he disagreed that the rumour is true and stated, “The spread of misinformation only causes more harm than good. In this era, we can and must do better.”
It has been announced by the governor of Ogun that Tuesday 3rd of February is a public holiday in order to mark the 50th anniversary of the state creation.
This public holiday declaration was released in a statement by the secretary of the state, Tokunbo Talabi.
He then added that the holiday will provide as a day for the citizens to participate in the activities for the state milestone.
Former Kogi politician, Dino Melaye, faces backlash from the public after he shared a video on social media of him abroad and living well through his luxurious lifestyle.
In the same video, he speaks about Nigeria’s current economy and shares his disappointment.
He wrote, “See country, God help us to build a true nation where our wicked leaders will be in jail and the right people in power. Nigeria must be fixed. YES WE CAN.”
However, many state that what he posted and what he is saying contradict each other, and they accused him of sharing his own records to know if he was a corrupt leader.
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