Nigeria's Power Minister Focuses on Financial Sustainability

Minister of Power Joseph Tegbe stated that the federal government is prioritizing the financial sustainability of Nigeria's power sector during a media stakeholders’ session in Lagos. He emphasized that the sector faces liquidity issues rather than technical challenges and that a financially viable sector is essential for delivering sustainable electricity to all Nigerians.

Tegbe outlined the government's ambition for reliable, competitive, sustainable, and inclusive electricity. He acknowledged the ongoing reforms initiated by President Bola Ahmed Tinubu, which aim to address long-standing structural deficiencies in the sector.

Tegbe also dismissed rumors regarding potential tariff increases, asserting that the Presidential Metering Initiative is moving towards universal metering to ensure consumer transparency. He highlighted investments in transmission infrastructure, rural electrification, and the establishment of the Power Force initiative, which will engage 5,000 Nigerian youths in meter installation to close the metering gap and develop skilled professionals in the electricity sector.