The Minister of Power, Joseph Olasunkanmi Tegbe, has stated that the Federal Government will continue to pursue sector reforms, partnerships, and investments aimed at improving electricity supply in Nigeria. He made this statement at the 2026 Association of Energy Correspondents of Nigeria (NAEC) Energy Conference in Lagos. The conference, themed "Access to Assets: Empowering Players and Driving Growth," brought together stakeholders in the energy sector to discuss ways to improve the power sector.
According to Tegbe, the Federal Government is committed to clear responsibilities, measurable service outcomes, and transparent communication in the power sector. He urged investors considering asset acquisition or expansion to look beyond returns from individual facilities and consider the wider economic value that reliable electricity could create. Tegbe emphasized that reliable power enables the manufacturing, logistics, and services that expand the economy around an investment.
The Minister identified opportunities for investors in Nigeria's power sector, including recovering dependable output from existing generation assets. He stated that existing plants could deliver more electricity if their underlying constraints were addressed. Tegbe mentioned that plant rehabilitation, efficient operations and maintenance, reliable gas deliveries, and adequate evacuation can convert investment already made into dependable electricity supply.
Tegbe also emphasized the need for proposed interventions to identify the actual constraint affecting a power plant before additional capacity is introduced. He stated that adding generation capacity where the real constraint lies elsewhere could tie up capital without improving electricity supply to customers. The Minister urged investors to consider the binding constraint, whether it be plant condition, transmission limitations, gas supply, collections, or payment.
The Minister also identified industrial estates, agro-processing centers, and commercial clusters as opportunities for investors to aggregate electricity demand, secure credible offtake, and develop dedicated generation and supply arrangements within the regulatory framework. He called for investment in feeder rehabilitation, substation transformers, metering, and digital revenue systems to improve electricity delivery and payment.
Ugo Amadi, Chairman of NAEC, stated that over 90 million Nigerians still lack reliable electricity, forcing households and industries to rely on expensive self-generation to meet their daily energy needs. He added that grid disturbances continue to expose transmission vulnerabilities, while power distribution companies remain bogged down by financial and operational inefficiencies.
Amadi noted that Nigeria has recorded measurable progress in the last few years, but significant gaps still demand urgent attention from government and stakeholders. He emphasized that Distribution Companies (DisCos) remain liquidity-constrained, collection efficiency is low, and estimated billing persists. The Chairman called for urgent attention to address these challenges and improve the power sector.
Key points
- The Federal Government has pledged to pursue sector reforms, partnerships, and investments to improve electricity supply in Nigeria.
- Over 90 million Nigerians still lack reliable electricity, forcing households and industries to rely on expensive self-generation.
- The Minister of Power has called for investment in feeder rehabilitation, substation transformers, metering, and digital revenue systems to improve electricity delivery and payment.
