FG Earmarks N340bn For Power Sector Infrastructure Upgrade

President Bola Tinubu has set aside ₦340bn for power infrastructure upgrades across the country.

This was revealed by the Chief of Staff to the president, Hon. Femi Gbajabiamila during the commissioning of the 220MVA substation at Randle Avenue in Surulere, Lagos State at the weekend.

According to him, the fund was earmarked in the 2024 budget, assuring Nigerians of Tinubu’s commitment to reliable power supply in the country.

He said “Citizens must protect power infrastructures as we address cases of estimated billing and poor meter distribution. Access to reliable electricity is not a privilege, it is a fundamental right that drives productivity, fosters innovation and improves the quality of life of all citizens.

Gbajabiamila explained that President Tinubu was working hard to ease the hardship being experienced by citizens.

The development comes days after the Power Minister; Adebayo Adelabu threatened to sanction non-performing power distribution companies (DisCos), over their inability to deliver quality power supply across the country despite huge investments by the government.

According to him, one of the sanctions for willful non-performance could be a revocation of licence.

In a tweet after meeting with the Chief Executives of some DisCos and the Managing Director of the Transmission Company of Nigeria, he said: “As the Minister of Power, I am deeply concerned about the deteriorating electricity supply across the country. In response to this pressing issue, I have summoned the Chief Executives of Abuja Electricity Distribution Company (AEDC) and Ibadan Electricity Distribution Company (IBEDC), as well as the Managing Director of the Transmission Company of Nigeria (TCN), to a crucial meeting. The purpose of this meeting is to discuss the worsening power supply in their respective regions and to collectively find lasting solutions.

“Moving forward, I am committed to holding all distribution companies accountable for their performance. Willful non-performance will not be tolerated, and severe consequences, including license revocation, may be imposed. Additionally, I have instructed TCN to prioritize repair works on damaged transmission towers and power lines to improve supply in affected regions.

“During recent supervisory visits to power generating plants, I have witnessed firsthand the challenges faced by the sector. Plans are underway to settle outstanding debts owed to power generation and gas supply companies, which will alleviate the financial strain and contribute to improved generation levels nationwide. I urge electricity consumers to remain patient as we work tirelessly to address these issues and provide better service to all Nigerians”.