FG Calls for Investment in Nigeria's Power Sector Growth

During the Project Hoover Series II Investor Forum held in Abuja on Tuesday, Minister of Power Joseph Tegbe called on local and international investors to enhance their investments in Nigeria's power sector to bolster economic growth. He emphasized that reliable electricity is crucial for transforming Nigeria's economy and achieving sustainable growth.

Tegbe highlighted ongoing reforms under President Bola Tinubu's administration, including the implementation of the Electric Act 2023, aimed at establishing a commercially viable electricity market. He noted the importance of promoting a competitive electricity market and empowering state governments in regulatory processes.

Tegbe acknowledged the historical financial obligations that have deterred new investments but pointed to the oversubscription of the N501 billion Series 1 issuance launched earlier in 2026 as a sign of renewed investor confidence. He urged investors to view opportunities beyond fixed-income instruments and collaborate with the Federal Government to revitalize the electricity sector.