President Bola Ahmed Tinubu has vowed to increase the availability of power supply following the meeting held on the 22nd of June 2023 at the Ministry of Power by Temitope Fashedemi, the Permanent Secretary. The news was made as Olu Verheijen, President Bola Tinubu’s Special Energy Adviser, visited the Ministry. The ministry’s spokesperson, Chinwe Udouwem, released a press release with Fashedemi’s remarks.
During the discussion, Fashedemi expressed confidence that the technical directors and leaders of the agencies reporting to the government would identify the main difficulties the industry was facing. He requested them to give a thorough summary of these difficulties.
In answer, Verheijen emphasized the crucial part that power plays in a country’s development and productivity. He emphasized that enacting reforms in the power industry will result in desired positive impact.
In the meantime, Nigerians were spending more on electricity since the Muhammed Buhari administration announced last year that it has discreetly eliminated all subsidies in the power industry while also planning to progressively cease comparable subsidies for gasoline. Zainab Ahmed the former minister of finance, budget and national planning revealed the information on the second day of virtual meeting between African finance ministers and the international monetary fund’s [IMF].
Fast forward to today, the national Bureau of statistics that the first quarter of 2023, Nigeria’s electricity supplies increased ton 5,852GW hours. Notably, the rise of electricity-lit-hours resulted in a rise in consumer power cost.