Adelabu Pledges to Generate 20,000 Megawatts, Bridge 8 Million Metering Gap
Nigeria’s Minister of Power Adebayo Adelabu has vowed to increase the storage capacity of generating companies (GenCos) in Nigeria to at least 20,000 megawatts in three years and to close the 8 million units metering gap in the nations power sector.
Adelabu made this promise on Tuesday at the ‘Nigeria Energy Exhibition and Conference’ in Lagos organized by Informa Markets which brought together stakeholders from both public and private sectors to dialogue on developing the power sector in the country.
He noted that “Beyond improving our transmission and distribution infrastructures, we must invest in Metering technology. Today we have over 8 million metering gap in Nigeria. We must reduce or eliminate this gap and come up with technology to ensure that connections are monitored and we are able to collect not less than 90 percent of power distributed.
“All household, small businesses, government institutions and industries must be properly metered so that everybody must account for their power usage and then to pay for it.”
Adelabu stressed the paramount importance of energy in driving economic growth and industrial development stating, “My vision between now and the next three years is to increase the storage capacity of our generating companies (GenCos) to least 20,000 megawatts.
It doesn’t stop there will you be able to transmit a minimum of 80 percent of this capacity to the end users of electricity.”
Adelabu pledges to generate 20,000MW of electricity in three years
Addressing Nigeria’s power generation potential, he noted the target of achieving 30,000 megawatts by 2030 and an ambitious 60,000 megawatts by 2060. However, he stressed that improving transmission and distribution infrastructure, reducing the metering gap, and ensuring efficient power collection were imperative to success.
“Without transmitting as much as 85 percent of generated power to Distribution Companies (DisCos), we are not effectively utilising our potential,” the Minister declared.
He also emphasized the need for liquidity in the sector calling for new investor. He urged that investors recognized the medium to long-term nature of the power sector and assured them that with sustained investment, the industry would yield substantial returns. This is even as he advised that need for increased attention towards exploring renewable sources like solar, hydro, and wind, which not only reduce carbon emissions but also spur economic growth and job creation.
He highlighted the need for enhanced communication among stakeholders to the public to combat issues such as vandalism, meter bypassing, and damage to government properties. He referenced the Nigeria Electricity Act 2023 recently signed into law by President Bola Tinubu underscoring its transformative potential which is expected to increase access to electricity, foster clean energy transitions, enhance service delivery, and facilitate infrastructure development.
The Exhibition Director, Nigeria Energy at Informa Markets, Ade Yesufu while highlighting the importance of the Confederence noted that arrived at a pivotal moment for Nigeria’s power sector.
“With the Nigerian government’s commitment to advancing the power sector in 2023 and beyond, a $20 billion investment plan is set to pave the way for the establishment of new power plants and transmission lines, bolstering electricity generation and grid stability.”
He added that one of the key elements of this transformation was the introduction of competition and private sector involvement in the electricity market, heralding a new era in Nigeria’s energy landscape.
