Rédaction Africa Links 24 with Ibrahim Ramalan
Published on 2024-03-14 21:09:43
The Minister of Power, Adebayo Adelabu, recently visited ongoing power upgrade projects in Maryland and Alausa substations in Lagos. During his visit, he assured Nigerians that the investment in the power sector would lead to improved electricity supply within the next three to six months.
Adelabu disclosed that the Transmission Company of Nigeria (TCN) had started upgrading some substations in Lagos from 30MVA transformers to 100 MVA and 205 MVA in Maryland and Alausa. He emphasized the necessity of implementing a cost reflective tariff for the power sector and urged Distribution Companies (DisCos) to enhance service delivery to justify tariff reviews.
The minister expressed concerns over the rising cases of vandalism of power assets across the country, labeling vandals as “killers of people and saboteurs of business growth.” He advocated for severe punishment, including capital punishment, for power vandals to deter such criminal activities. Adelabu stressed the importance of collaboration among all stakeholders within the power sector value chain.
Adelabu also highlighted the current challenges in the power sector, where the installed capacity of 13,000MW is only generating 5,000MW. To address these issues, he proposed a bottom-to-top approach in infrastructure development and emphasized the need for DisCos to prioritize the improvement of power supply.
The CEO of Ikeja Electric, Folake Soetan, presented the company’s achievements in infrastructure upgrades and revenue growth. She mentioned the significant increase in capital expenditure from N5 billion in 2015 to N50.58 billion in 2023, as well as the improvement in revenue collection from N3.75 billion to N18.22 billion during the same period. Soetan highlighted the challenges posed by meter bypass, energy theft, and the metering gap in the industry.
Despite the economic challenges facing the country, Adelabu urged Nigerians to contribute positively to national development. He reiterated the importance of working together with DisCos to enhance power supply reliability and affordability for individuals and businesses.
In conclusion, the ongoing power upgrade projects in Lagos, coupled with the commitment of government officials and industry stakeholders, are aimed at addressing the challenges in the power sector and improving electricity supply across the country. Through collaboration, investment, and strategic planning, the future of the power sector looks promising for both consumers and businesses in Nigeria.
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