Nigeria Needs $10 Billion for 24-Hour Power Supply, Says Power Minister
Nigeria’s quest for stable, round-the-clock electricity requires a hefty investment of $10 billion over the next five to ten years, according to Minister of Power, Adebayo Adelabu. During a press briefing in Abuja on Wednesday, October 13, Adelabu emphasized that government resources alone are not sufficient to tackle the country’s power sector challenges.
Adelabu explained, “Achieving 24-hour power supply within 10 years requires a funding commitment of around $10 billion, which the government alone cannot provide.” He highlighted the need for private sector involvement through public-private partnerships (PPPs) to bridge the funding gap while ensuring government oversight in the sector.
The minister’s comments underscore the urgent need for collaborative solutions in Nigeria’s power sector, which has struggled for years with frequent outages and an inability to meet national demand. A long-term investment like this, fueled by both government and private sector contributions, could be key to finally providing Nigerian homes and businesses with reliable electricity.
Private sector partnerships have the potential to inject much-needed expertise and efficiency into power infrastructure projects. By leveraging the strengths of both sectors, Nigeria could be closer to achieving the stable power supply that millions have long awaited.