The Minister of Power, Adebayo Adelabu, has stated that for Nigeria to achieve functional, reliable, and stable electricity, the country requires no less than 10 billion dollars annually for the next ten to twenty years.
Nigeria’s Minister of Power, Adebayo Adelabu, has disclosed that the country needs a minimum of $10 billion in yearly investments over the next two decades to achieve reliable electricity. Speaking at the commissioning of a 3MW solar plant at the Nigerian Defence Academy in Kaduna, he stressed that past bottlenecks must be resolved for such funding to yield results.
Adelabu highlighted the newly signed Energy Bill as a key milestone, which decentralizes the power sector and allows states to participate in generation, transmission, and distribution. “This law empowers states to legally contribute to power solutions for their citizens,” he stated.