President Bola Tinubu has officially approved Nigeria’s most ambitious electricity reform blueprint yet, giving the green light to a national policy expected to attract over $122 billion in investments aimed at revitalising the country’s long-struggling power sector.

At Monday’s Federal Executive Council (FEC) meeting, Tinubu ratified the National Integrated Electricity Policy and Strategic Implementation Plan, a long-anticipated roadmap that lays out a transformative path for the Nigerian Electricity Supply Industry (NESI). First submitted in December 2024, the policy aligns with the revised Electricity Act 2023 and lays the foundation for a modern, diversified, and resilient energy system.

According to the Ministry of Power, the plan targets a $122.2 billion investment drive spread across a 21-year timeline (2024–2045). The goal: diversify Nigeria’s energy sources beyond the dominant hydropower and gas-fired systems to include renewable and futuristic energy technologies like solar PV, wind, biomass, hydrogen, concentrated solar power, nuclear energy, and carbon capture solutions.

“This is a bold and necessary move,” said Power Minister Adebayo Adelabu in a statement issued by his media adviser, Bolaji Tunji. “The policy presents a comprehensive framework to address longstanding issues in power generation, transmission, and distribution, while integrating cleaner energy and enhancing efficiency across the board.”

Under the new roadmap, $192 million will be allocated within the next five years (2024–2028) specifically to expand the national transmission grid and improve capacity — a crucial step to end Nigeria’s persistent power instability.

The approval also marks a historic shift in sector governance. The Electricity Act 2023, passed last year, decentralised power generation and opened the door for sub-national entities and private players to take an active role in the energy market.

Adelabu described the act and the policy as “a pivotal moment” that will not only modernise the electricity sector but also trigger wider socio-economic development across the country.

“This roadmap isn’t just a document. It is a transition manual for all stakeholders — from federal and state governments to investors, market operators, and everyday Nigerians,” he said.

Implementation is already underway, with visible impacts expected in the coming months, according to the Ministry of Power.


By WafricNews Desk.