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FG allocates N340bn to enhance power sector infrastructure
President Bola Tinubu has set aside N340bn towards the enhancement of power infrastructure throughout Nigeria.
This information was disclosed by the Chief of Staff to the President, Hon. Femi Gbajabiamila, during the inauguration of the 220MVA substation at Randle Avenue in Surulere, Lagos State over the weekend.
Hon. Gbajabiamila confirmed that the allocation was included in the 2024 budget, highlighting Tinubu’s dedication to ensuring a consistent and reliable power supply across the nation.
He said “Citizens must protect power infrastructures as we address cases of estimated billing and poor meter distribution.
Access to reliable electricity is not a privilege, it is a fundamental right that drives productivity, fosters innovation and improves the quality of life of all citizens.
READ ALSO: President Tinubu enacts Electricity Act 2023 to spur power sector development
Gbajabiamila explained that President Tinubu was working hard to ease the hardship being experienced by citizens.
“The president is committed to rolling out wage awards for workers, financial support for SMEs, loans for students, unemployment benefits and many other social security programmes and improve living conditions for all Nigerians,” he said.
The development comes days after the Power Minister; Adebayo Adelabu threatened to sanction non-performing power distribution companies (DisCos), over their inability to deliver quality power supply across the country despite huge investments by the government.
According to him, one of the sanctions for willful non-performance could be a revocation of licence.
In a tweet after meeting with the Chief Executives of some DisCos and the Managing Director of the Transmission Company of Nigeria, he said: “As the Minister of Power, I am deeply concerned about the deteriorating electricity supply across the country. In response to this pressing issue, I have summoned the Chief Executives of Abuja Electricity Distribution Company (AEDC) and Ibadan Electricity Distribution Company (IBEDC), as well as the Managing Director of the Transmission Company of Nigeria (TCN), to a crucial meeting. The purpose of this meeting is to discuss the worsening power supply in their respective regions and to collectively find lasting solutions.
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