Minister of power, Adebayo Adelabu
By EZEKIEL OBI, Abuja-
Federal Executive Council (FEC) has approved significant funding to revamp Nigeria’s power infrastructure, aiming to enhance electricity supply and drive industrial development.
The announcement was made by Minister of Power, Adebayo Adelabu, following the FEC meeting presided over by President Bola Tinubu on Wednesday at the Presidential Villa, Abuja.
Adelabu revealed that the council approved four proposals to advance the nation’s power sector transformation.
The first approval allocates N13 billion for compensating property owners affected by the right-of-way for the Lagos Transmission Industrial Project, funded by a $238 million loan from the Japan International Cooperation Agency (JICA).
“This initiative will enhance power reliability along the Lagos-Ogun industrial corridor, fostering industrial growth and ensuring stable electricity for manufacturers,” Adelabu stated.
He emphasized that the project aligns with the government’s goal of promoting local production and reducing import dependency by providing dedicated power to industrial estates.
The remaining three proposals focus on upgrading the national grid’s aging infrastructure. Adelabu noted that much of the grid, over five decades old, suffers from frequent equipment failures and overloads.
To address this, FEC approved $34 million and N5.2 billion for acquiring 14 high-capacity transformers, including two 150MVA, five 100MVA, five 60MVA, and two 30MVA units.
“These transformers will alleviate stress on the grid, boost its capacity to handle increased electricity generation, and improve overall system efficiency,” the minister explained.
Adelabu underscored the necessity of ongoing maintenance and modernization to prevent outages and ensure a reliable power supply for households, businesses, and industries.
“A robust grid is critical for industrialization, job creation, and sustainable economic progress,” he said, describing the approvals as a positive step for Nigerians.
The minister reaffirmed the government’s commitment to delivering measurable improvements in electricity access, enhancing the quality of life and economic competitiveness nationwide.
