Mathew Amaechi
In a bold move to tackle Nigeria’s persistent power crisis, the Federal Government has unveiled a groundbreaking $23.2 billion energy access program designed to transform the nation’s energy landscape.
The initiative, spearheaded by Minister of Power Adebayo Adelabu, seeks to close the electricity gap, boost renewable energy adoption, and provide clean cooking solutions to millions of Nigerians.
The program, dubbed the National Energy Compact, was announced following the recent Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania. The summit, hosted by the Tanzanian government, the African Union, the African Development Bank Group, and the World Bank Group, brought together African leaders, business executives, and development partners to accelerate electricity access for 300 million Africans by 2030.
Adelabu emphasized that the program aligns with the United Nations’ Sustainable Development Goal 7, which aims to ensure universal access to affordable, reliable, and modern energy services by 2030. “With 150 million Nigerians already electrified, we remain committed to achieving universal energy access by 2030,” he said.
Despite the ambitious roadmap, Adelabu acknowledged significant hurdles, including the rampant vandalism of power infrastructure. Transmission towers, pipelines, and distribution equipment are frequently targeted, disrupting supply and deterring potential investors. To combat this, the government is ramping up security measures, imposing stricter penalties, and deploying advanced surveillance technologies to protect critical assets.
“Protecting our power infrastructure is non-negotiable if we are to achieve uninterrupted electricity supply and sustain progress,” Adelabu stated.
The government is banking heavily on private sector participation to unlock the $23.2 billion investment required for the program. Of this, $15.5 billion is expected to come from private investors. These funds will be channeled into expanding power generation, strengthening transmission and distribution networks, and integrating distributed renewable energy solutions.
The Federal Government has called on development partners, philanthropies, and the private sector to join this transformative journey. “By implementing the National Energy Compact, Nigeria is positioning itself as a leader in Africa’s energy transition while creating opportunities for economic growth, job creation, and industrialization,” Adelabu said.
Nigeria, with a population of over 200 million, currently generates a mere 4,500 megawatts of electricity, far below its needs. Efforts to increase generation to 6,000 megawatts in 2024 were thwarted by vandalism and frequent grid collapses. As a result, over 250 companies and institutions have abandoned the national grid, opting to generate their own power.
The National Energy Compact represents a critical step toward addressing these challenges. As the Mission 300 initiative gains momentum, Nigeria’s commitment to energy sector reforms, infrastructure expansion, and investment mobilization could set a precedent for the rest of Africa.
“This is not just about powering Nigeria; it’s about shaping the future of electricity access across the continent,” Adelabu concluded.
With this ambitious plan, Nigeria is poised to ignite an energy revolution that could light up millions of homes, drive economic growth, and cement its role as a leader in Africa’s energy transition.
