FG targets 80% electricity access within five years

The Nigerian government is committed to boosting electricity access to over 80% within five years and reducing the gap between installed and available power generation within three years, according to the Minister of Power, Joseph Tegbe. This pledge was made during a presentation at the Nigeria Economic Summit Group event in Lagos.

Tegbe also announced the government's intention to align with the Nigerian Electricity Regulatory Commission's target of reducing Aggregate Technical, Commercial, and Collection losses to below 16.92% within three years. To achieve these goals, the administration plans to strengthen key transmission corridors, expand electricity access, and improve the reliability of power supplied to businesses and households.

Tegbe emphasized that the reforms are in line with President Bola Tinubu's vision to transform Nigeria into a $1tn economy, and electricity is central to attaining this ambition. The government is already taking steps to bolster transmission infrastructure, deploy seven million meters, and train 5,000 people. Additionally, the ministry aims to establish an independent electricity market, enhance liquidity and sustainability, reduce recurring debts and losses, and identify the electricity deficit as a major obstacle to industrialization.