Minister of Power, Adebayo Adelabu, has revealed that Nigeria requires over $100 billion in combined public and private sector investments to fix its struggling power sector. Speaking at a press conference in Abuja, Adelabu said the funding would cover the entire electricity value chain—generation, transmission, distribution, and gas infrastructure.
He broke down the estimate as follows:
- $30bn for increasing generation capacity by 20,000MW
- $20bn for transmission infrastructure
- $25bn for distribution networks
- $22bn for gas pipelines and supply
Adelabu noted that achieving stable electricity will require phased investments, policy consistency, and strong private sector participation. He emphasized that Nigeria’s energy needs far exceed countries like South Africa due to its larger population.
The minister also blamed recent power outages on gas supply constraints, revealing that about 75% of gas-fired plantshave been affected. He added that only 2 out of 32 power plants currently have firm gas supply agreements, with others relying on inconsistent deliveries.
Adelabu called for stronger collaboration among key ministries and stakeholders, stressing that reliable electricity is a gradual process:
“24/7 power supply is not a destination but a journey,” he said.
