Minister of Power of Nigeria, Adebayo Adelabu, has emphasized the urgent need for proactive measures to tackle the challenges plaguing the country’s power sector.
During a visit to the Egbin Power Plant, Adelabu outlined comprehensive strategies aimed at enhancing power supply across Nigeria.
Addressing a range of issues from infrastructure limitations to supply chain constraints, Adelabu assured stakeholders of the government’s commitment to resolving these challenges. Starting in April, the Federal Government plans to prioritize settling outstanding debts owed to power plants like Egbin Power, intending to incentivize their continuous operation and improve efficiency.
Recognizing the importance of foreign exchange access for power generation companies, Adelabu underscored the government’s efforts to facilitate this access to sustain and enhance power output nationally.
The Minister also inaugurated two projects during the visit—the environment-friendly Electric Vehicles Project and expansion projects on staff quarters named after President Bola Tinubu.
“During my recent visit to the Egbin Power Plant, I reiterated that we have conducted a thorough diagnosis of the challenges currently facing our power sector in Nigeria. These challenges range from infrastructure limitations to supply chain constraints, and we are taking urgent action to address them and enhance power supply across the country.
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“To this end, the Federal Government is fully committed to implementing proactive measures. Starting in April, we will prioritize the settlement of outstanding debts owed to power plants like Egbin Power. By doing so, our goal is to provide incentives for the continuous operation of these crucial facilities and to enhance their overall efficiency.
“Moreover, we acknowledge the importance of ensuring that power generation companies have access to essential foreign exchange for their maintenance and operations. This access is crucial for sustaining and improving power output on a national scale. We are taking decisive steps to facilitate this access, recognizing its critical role in the broader context of our energy infrastructure.
“Our ongoing discussions with the Ministry of Petroleum Resources and gas suppliers are centered on addressing gas supply constraints and facilitating debt repayment. Through collaborative efforts with all stakeholders, we are dedicated to finding solutions that will benefit the entire sector and contribute to its long-term sustainability.
“The shortage of gas has posed a significant obstacle to the operation of gas power plants. Through close collaboration with the Ministry of Petroleum Resources and gas suppliers, we are working diligently to tackle this issue and ensure a reliable gas supply for power generation.”
Adelabu commended the Board and Management team of Egbin Power for their dedication in maintaining infrastructure despite challenges, emphasizing their role in bolstering the sector’s resilience.
