FGN Power Company reports N10 trillion investment in power

The federal government has invested over N10 trillion in the power sector since its privatization in 2013, as stated by Kenny Anuwe, the MD/CEO of FGN Power Company Limited, during the 6th annual Conference of the Power Correspondent Association of Nigeria (PCAN). Anuwe emphasized that this investment was crucial for the sector's stability and for aiding private investors in improving electricity supply for Nigerians.

He acknowledged the frustration over the lack of progress in achieving electricity supply goals despite the significant investment. Anuwe mentioned the role of the agency under the Presidential Power Initiative in coordinating projects and securing financing.

He noted that the pilot phase of the Siemens Programme has been completed, with phase one of the transmission substations and lines project on track for completion in Q1 2027. The Minister of Power, Joseph Tegbe, reported that over 2.8 million customers have been metered since the current administration began, and additional transmission capacity has been added to the national grid, although vandalism remains a significant threat to the sector.