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FG Promises Power For 20-Hour Daily by 2027

F.Adenike

The Nigerian Federal Government has pledged to deliver 20 hours of daily electricity to urban and industrial areas by 2027.


This ambitious target was announced by Olu Verheijen, the President's Special Adviser on Energy, during the African Energy Week held in Cape Town.


The announcement comes amid ongoing issues with Nigeria's national power grid, which frequently collapses due to outdated infrastructure, inadequate maintenance, and insufficient investment.


Despite having an installed capacity of approximately 12,500 megawatts, the actual power generation often falls short, leading to widespread blackouts and unreliable electricity supply across the nation.


Verheijen emphasized that achieving this goal is contingent upon "sufficient investment in Nigeria’s oil and gas sector," which she noted is currently below expectations.


The government aims to revitalize the power sector through several strategic initiatives. These include improving revenue assurance and debt collection, deploying seven million smart meters to reduce losses, and expanding off-grid solutions for remote communities.


Highlighting recent macroeconomic reforms, such as the removal of the petrol subsidy and foreign exchange liberalization, Verheijen expressed confidence in Nigeria's potential for unprecedented growth under President Tinubu's leadership.


"Nigeria is championing reforms to unlock its vast economic potential and create jobs," she stated.


To further bolster energy reliability and economic growth, the government has introduced new fiscal incentives for deep offshore and non-associated gas projects.


This marks Nigeria's first tailored fiscal framework for deepwater gas, aiming to attract global investments and enhance the country's energy infrastructure.


While the promise of improved electricity supply is welcomed by many, skepticism remains high among Nigerians.


Critics have pointed out the government's history of unmet promises in the power sector, with one commentator noting, "Every single President since 1999 has promised improvements, yet it never happens."

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