Power sector experts have emphasized that investments, technology, and collaboration are vital components for advancing a sustainable energy future in Africa’s most populous nation.
During the opening speech at a recent power sector conference held in Lagos, Minister of Power Adebayo Adelabu emphasized the critical need for public-private collaborations and investments to improve electricity accessibility and affordability.
The minister expressed confidence that these efforts could address the challenges facing the power sector, including achieving energy security and sustainability.
He outlined that Nigeria’s energy mix currently consists of 80% coal and 20% renewable hydro energy, and the country is at a pivotal moment in its energy journey, given its abundant resources and growing population.
To achieve this, the Federal Government plans to invest $20 billion in power plants and grid stability, with the aim of reaching 20,000 megawatts of electricity generation within the next three years.
The minister stressed the importance of closing the metering gap to ensure power generated reaches consumers and that investors should prepare for long-term commitments in the sector.
He also mentioned the long-term goals of achieving 30,000MW by 2030 and 60,000MW by 2060 and the need for investments in transmission and distribution infrastructure.
In addition to this, he highlighted that the energy transition should be fair and inclusive, ensuring that all Nigerians have access to energy.
The focus is on creating a sustainable and modern energy future in the country.
The speech also touched on the importance of adopting cutting-edge technologies and innovative solutions in electricity generation, transmission, and distribution.
It discussed the need to mitigate hazards in the power sector to make it safe, reliable, and sustainable, with a focus on technical standards, regulations, and enforcement.
Overall, the message conveyed the importance of investments, technology, and collaboration in addressing Nigeria’s energy challenges and achieving a sustainable energy future.
