Adelabu Commits to FG-State Partnership for Independent Power Market in Akwa Ibom

Minister of Power, Chief Adebayo Adelabu, pledged a partnership between the Federal Government and Akwa Ibom State to develop an independent electricity market in line with the new Electricity Act 2023. At the Akwa Ibom Power Summit, Adelabu emphasized the need to align state initiatives with the federal framework to ensure stability and investor confidence in the national grid.

The Electricity Act empowers states to regulate their electricity markets. Adelabu assured support from federal agencies like the Rural Electrification Agency for this initiative.

The goal is to provide reliable electricity access to all Nigerians, regardless of location, for homes, businesses, and industries. The event highlighted efforts to decentralize Nigeria's electricity supply industry for improved energy access nationwide.