Nigeria's Power Crisis: Tinubu's Pledge for Reform

Nigeria's power supply issues have reached a critical point, with the Nigerian Independent System Operator (NISO) estimating an annual loss of N40 trillion due to unreliable electricity supply. Adesegun Akin Olugbad, the board chairman of NISO, highlighted that despite significant investments over nearly three decades, the challenges remain unresolved.

A 2021 World Bank report indicated that Nigeria is one of the poorest countries in terms of power supply, with 85 million citizens not connected to the grid, resulting in an annual loss of $26 billion. The situation is expected to worsen, with projections of a $29 billion loss by 2025.

President Bola Ahmed Tinubu, during the APC's 4th national convention in Abuja, pledged to improve electricity supply and outlined new interventions to tackle persistent power outages. He emphasized the need for holistic reforms in the power sector, which has struggled since its privatization 13 years ago.

The newly created Grid Asset Management Company (GAMCO) is expected to play a key role in boosting transmission capacity and stabilizing supply nationwide.