The Minister of Power, Adebayo Adelabu says the Federal Government is putting in place a number of initiatives to improve the power sector.
Mr Adelabu said this at the Ministerial press briefing Series organised by the Ministry of Information and National Orientation on Friday in Abuja.
He said that the Federal Government has put in place a presidential power initiative to ensure that power infrastructure were enhanced and improved across the sector.
”There is also the Presidential Meter Initiative (PMI) put in place to ensure that the meter gap is addressed.
”And we also have a lot of development banks that are working with us on several projects in transmission and distribution.
‘”So as a ministry, we are committed to making an impact during this administration,”he said.
Adelabu said that government was also ramping up generation companies, adding that a lot was being done in the transmission segment of the industry
The minister said that government had invested in gas-to-power infrastructure and implemented policies to attract private investment.
However, despite these impressive reforms, a significant portion of our population still lacks access to reliable electricity.
”Against this backdrop, the country began to explore more off-grid power sector solutions to address energy poverty and key into our Energy Transition Plan.
The minister said that government also have projected in renewable energy across the country which was aimed at taking electricity supply to the rural communities and the underserved Nigerians.
He said that the Federal Government had made significant efforts to provide the enabling environment to promote, attract and protect private sector participation and investment, required to bridge the energy access gap.
According to him, Government has made Data Driven Decisions by collaborating with some experts to develop the Integrated Energy Planning Toolkit.
”This innovative tool provides real-time data to pinpoint ideal locations for renewable energy projects streamlining investment decisions.
”We have developed legal frameworks that have liberalised the entire electricity value chain, integrated renewable energy
”Established an Independent Systems Operator (ISO), guidelines for franchising, captive power and mini grid regulations.
” In addition, programmes being implemented by the Rural Electrification Agency have been successful in providing traditional and innovative financing opportunities for private sector driven interconnected and off grid project delivery,”he said.
NAN
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