FG Seeks Investor Support for Nigeria's Power Sector Reform

On Tuesday, Minister of Power Joseph Tegbe addressed investors at the Project Hoover Series II forum in Abuja, urging them to support the Federal Government's power sector reform agenda. Tegbe emphasized that reliable electricity is crucial for sustainable economic growth, aligning with President Bola Ahmed Tinubu's Renewed Hope agenda.

He stated that the government is committed to transforming the power sector into a commercially viable, investment-grade industry. Tegbe referenced the Electricity Act 2023 as a pivotal element in reshaping the sector but acknowledged the challenges posed by unresolved historical obligations that hinder market competitiveness.

He encouraged investors to view the Project Hoover initiative as a unique opportunity to stabilize Africa's largest electricity market while contributing to long-term economic value. Tegbe concluded by inviting investors to restore the commercial foundation of Nigeria's electricity sector, highlighting the immense opportunities that lie ahead.