The All Progressives Congress Presidential Campaign Council has acknowledged that President Bola Tinubu has not fully addressed Nigeria's electricity challenges. Despite this, the council insists that his administration remains committed to providing Nigerians with a reliable power supply. According to Dele Alake, the council's spokesperson, improving the power sector remains unfinished business, three years after Tinubu took office.
Alake defended the administration's efforts, stating that the President had taken steps to address the structural, institutional, and financial problems that have affected the sector for over five decades. During a meeting with members of the Organised Private Sector in Lagos before the 2023 general election, Tinubu had promised to end estimated billing and ensure a stable electricity supply. He vowed that his administration would ensure Nigerians have electricity and would no longer pay for estimated bills.
Alake urged Nigerians to assess the President's 2023 campaign promise alongside the actions taken by his administration. He argued that some recent reports had quoted the President's promise without including his concluding remarks, insisting that his statement should be considered in its entirety. Tinubu had challenged Nigerians not to re-elect him if he failed to deliver on the promise.
The President signed the Electricity Act 2023 on June 9, less than two weeks after assuming office. The law allows state governments to participate in electricity generation, transmission, and distribution. According to Alake, states, including Lagos, Enugu, Abia, Ekiti, Oyo, Kaduna, and Niger, have started using the opportunity to establish regulatory agencies and attract private investment into their electricity markets.
On the financial challenges facing the sector, Alake said the administration inherited over N6 trillion in outstanding debts accumulated since 2015. The Federal Government introduced a N4 trillion bond programme to settle verified debts owed to 21 electricity generation and gas companies. The first two phases of the programme had raised over N1.2 trillion to pay part of the outstanding liabilities.
Alake also highlighted the government's efforts to address electricity metering. The government had introduced the Presidential Metering Initiative, through which over 1.5 million customers had received meters in the past three years. The administration had also introduced different electricity service bands and protection measures for low-income households.
The administration defended its decision to move electricity tariffs towards cost-reflective levels, saying the measure was aimed at improving the financial position of operators. Alake emphasized that Tinubu's administration is working to provide reliable power supply to Nigerians, despite the challenges faced by the sector. The government remains committed to fulfilling its promise of a stable electricity supply.
Key points
- President Bola Tinubu's administration has taken steps to address Nigeria's electricity challenges, including signing the Electricity Act 2023 and introducing a bond programme to settle outstanding debts.
- The administration has also introduced the Presidential Metering Initiative, which has provided meters to over 1.5 million customers in the past three years.
- Despite progress, the administration acknowledges that improving the power sector remains unfinished business, three years after Tinubu took office.
