FG targets 80% electricity access within five years

Nigeria's Federal Government has pledged to significantly improve the nation's electricity sector, targeting over 80% access for citizens within five years and closing the gap between installed and available power generation within three years. These commitments aim to address the persistent energy crisis that hampers the country's manufacturing sector.

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Over 80 per cent access, ATC&C losses below 17 per cent, the capacity gap closed – Nigerian industry gets the reliable, affordable power it needs to compete for AfCFTA’s 1.4 billion consumers.

Minister of Power, Joseph Tegbe, outlined the plan at the Nigeria Economic Summit Group event in Lagos. Key objectives include strengthening critical transmission corridors like Lagos, Enugu-Port Harcourt, and Abuja-Kaduna-Kano. The government also aims to reduce Aggregate Technical, Commercial, and Collection (ATC&C) losses to below 16.92% within three years, according to the Nigerian Electricity Regulatory Commission's target.

These reforms are central to President Bola Tinubu's ambition to transform Nigeria into a $1 trillion economy. The minister emphasized that reliable and affordable power is essential for Nigerian industries to compete within the African Continental Free Trade Area (AfCFTA), which boasts 1.4 billion consumers. The government is already strengthening transmission infrastructure and rolling out seven million electricity meters, alongside training 5,000 personnel.

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President Bola Tinubu has been absolutely clear about the economic direction of this administration – to transform Nigeria into a one trillion-dollar economy – and electricity sits at the heart of that ambition.

Nigeria currently faces a significant electricity deficit, with installed grid capacity at 13,625 megawatts but only an average daily availability of 4,854MW. This inadequacy forces many businesses to rely on expensive self-generation, with energy costs reportedly comprising 30 to 40 percent of factory expenses. The plan also includes establishing an independent electricity market, improving liquidity, and reducing debts and losses.

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4,500 to 5,000MW average available for 200m+ people. 26 grid collapses in 2024. Energy is 30 to 40 per cent of factory cost.