Power Minister To Present Draft Electricity Policy To FEC

The Minister of Power, Adebayo Adelabu has received a draft copy of the National Integrated Electricity Policy and Strategic Implementation Plan. This comprehensive policy document is designed to address the multifaceted challenges within Nigeria’s electricity sector.

The plan outlines interventions across the entire power value chain, from generation and transmission to distribution and off-grid segments.

Adelabu announced that the draft policy would be presented to the Federal Executive Council (FEC) in six weeks. The policy aims to improve equitable access to electricity for all Nigerians, particularly those in underserved communities, create an enabling environment for investment, and integrate renewable energy sources.

The Nigerian power sector has long been plagued by issues that have hindered electricity generation and affected the country's industrialization. Currently, Nigeria generates about 4,000 megawatts of power, with plans to increase this to 6,000 megawatts within the next six months. Of the current power generation, 25% comes from hydroelectric power, while the remaining 75% is derived from gas plants.

In addition, on April 3, 2024, the Nigerian Electricity Regulatory Commission (NERC) raised the electricity tariff for customers enjoying 20 hours of power supply daily.

These customers, classified under Band A, now pay N225 per kilowatt-hour, up from the previous N66. This significant tariff hike has been met with heavy criticism due to the immediate financial burden it places on consumers amidst existing economic hardships.