The Federal Government has stated that Nigeria requires over $100 billion in public and private investments to achieve stable and reliable electricity across the country.
The Minister of Power, Adebayo Adelabu, disclosed this while addressing developments in the sector, noting that the funding is needed across the entire power value chain, including generation, transmission, distribution and gas supply.
He explained that expanding power generation alone to deliver an additional 20,000 megawatts would cost about $30 billion, while transmission infrastructure would require roughly $20 billion to effectively distribute electricity nationwide.
According to him, distribution networks would need about $25 billion, while gas infrastructure, critical for powering most of Nigeria’s plants, would require approximately $22 billion in investments.
The minister acknowledged recent declines in electricity supply and apologised to Nigerians, attributing ongoing challenges to gas shortages, ageing infrastructure and financial constraints within the sector.
He noted that despite the challenges, there have been improvements, including a peak generation of over 6,000 megawatts and increased transmission capacity in recent years.
Adelabu emphasised that achieving 24-hour electricity supply would require phased investments, stronger collaboration between government and private investors, and sustained reforms across the sector.
He added that consistent funding and coordinated efforts among key ministries and stakeholders would be essential to addressing Nigeria’s long-standing power challenges and ensuring reliable electricity for citizens.
