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President Bola Tinubu has described reliable electricity supply as a “democratic dividend” that his administration is committed to delivering to Nigerians, saying ongoing reforms in the power sector are aimed at fixing long-standing structural challenges.
In his Democracy Day address, Tinubu said that when his government assumed office in 2023, the electricity sector was facing deep-rooted problems, including chronic generation shortfalls, unstable gas supply, and a weak transmission network that could not evacuate available power. He added that distribution companies were weighed down by heavy financial losses and a metering gap of over four million customers.
According to him, the sector was also burdened by legacy debt, while inefficiencies across the value chain meant that Nigeria’s installed generation capacity of about 13,500 megawatts was not being effectively utilised. He noted that power generation, transmission, distribution, and revenue collection all fell significantly below required levels, limiting service delivery nationwide.
To address these challenges, the president said he signed the Electricity Act, which now allows states to independently generate, transmit, and distribute electricity. He explained that this reform is intended to decentralise the power sector and improve efficiency across the value chain.
Tinubu also said the Presidential Power Sector Task Force is working to reduce the metering deficit, while also preparing to raise a N4 trillion bond to settle verified legacy debts in the sector.
He further noted that the Rural Electrification Agency, in collaboration with the World Bank and the African Development Bank, has expanded off-grid and mini-grid electricity projects to underserved communities, including schools, markets, and hospitals.
The president reiterated that electricity remains central to national development, stressing that it is a democratic dividend owed to all Nigerians, and his administration intends to deliver on that commitment.
It would be recalled that Tinubu in his earlier campaign pledge in 2023, stated that Nigerians should not re-elect him in 2027 if his administration fails to ensure stable electricity supply across the country.
