President Muhammadu Buhari has
assured Nigerians of affordable and uninterrupted electricity supply in the
“not too distant future”.
Speaking during his 59th
Independence day broadcast to the nation on Tuesday, the president said his
administration is resolute in reforming the power sector.
While the financial intervention
by the Buhari’s administration to the power sector has hit N1.5 trillion in
five years, the electricity supply to Nigerian homes is less than 5,000
megawatts.
“We are resolute in reforming the
power sector. In August this year, we launched the Presidential Power
Initiative to modernize the National Grid in 3 phases: starting from 5
Gigawatts to 7 Gigawatts, then to 11 Gigawatts by 2023, and finally 25
Gigawatts afterwards,” Buhari said.
“This programme, in partnership
with the German Government and Siemens, will provide end-to-end electrification
solutions that will resolve our transmission and distribution challenges.
“The programme will also look to
localize the development and assembly of smart meters as well as the operations
and maintenance capabilities of transmission and distribution infrastructure.
“I am pleased with the improved
inter-agency collaboration between the Ministry of Power and the regulators in
the banking and power sectors to ensure that electricity sales, billings and
collections are automated and become cashless.
“These initiatives are important
to ensure that the technical and collection losses in the sector are
substantially reduced. I remain confident that Nigerians will have affordable
and uninterrupted electricity supply in the not too distant future.”
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