Thursday, June 13, 2024
MARKET UPDATE
Advertisement Topt

TheCable

Advertisement

FG sets up presidential power initiative to improve electricity supply

FG sets up presidential power initiative to improve electricity supply
April 06
09:00 2024

Adebayo Adelabu, minister of power, says the federal government has put in place a presidential power initiative to improve electricity supply in the country.

Adelabu disclosed this at the ministerial press briefing series organised by the ministry of information and national orientation on Friday in Abuja.

According to him, the federal government has also put in place a presidential meter initiative to reduce the number of unmetered customers in the country.

“There is also the Presidential Meter Initiative (PMI) put in place to ensure that the meter gap is addressed,” he said.

Advertisement

“And we also have a lot of development banks that are working with us on several projects in transmission and distribution.

“So, as a ministry, we are committed to making an impact during this administration.”

Adelabu said the government is also ramping up generation companies, adding that a lot was being done in the transmission segment of the industry.

Advertisement

The minister explained that the government had invested in gas-to-power infrastructure and implemented policies to attract private investment, but regretted many still do not have power supply.

According to him, the government has made data-driven decisions by collaborating with some experts to develop the integrated energy planning toolkit.

“This innovative tool provides real-time data to pinpoint ideal locations for renewable energy projects streamlining investment decisions,” he said.

“We have developed legal frameworks that have liberalised the entire electricity value chain, integrated renewable energy.

Advertisement

“Established an Independent Systems Operator (ISO), guidelines for franchising, captive power and mini-grid regulations.

“In addition, programmes being implemented by the Rural Electrification Agency have been successful in providing traditional and innovative financing opportunities for private sector driven interconnected and off-grid project delivery.”

On April 3, the Nigerian Electricity Regulatory Commission (NERC) approved a tariff increase for Band A customers.

Customers on B and A are those who receive 20 to 24 hours of power supply in the country.

Advertisement

Click on the link below to join TheCable Channel on WhatsApp for your Breaking News, Business Analysis, Politics, Fact Check, Sports and Entertainment News!

Tags

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

error: Content is protected from copying.