FG Earmarks N340bn For Power Sector Infrastructure Upgrade
President Bola Tinubu has set aside N340bn 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 president is committed to rolling out wage awards for workers, financial support for SMEs, loans for students, unemployment benefits and many other social security programmes and improve living conditions for all Nigerians,” he said.
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.
“It is disheartening to witness the decline in power supply despite the concerted efforts to improve the situation. The Ministry has been exerting pressure on the Generating Companies (GENCOs) to enhance their performance, resulting in a recent increase in generation to over 4000MW. Despite this progress, certain distribution companies are failing to adequately distribute the power supplied by TCN, while vandalism of power infrastructure exacerbates the problem in regions such as Abuja, Benin, Port Harcourt, and Ibadan.
“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 elect
