Close Menu
  • Home
  • News
  • Politics
  • Health
  • Business
  • Education
  • Opinion
  • Lifestyle
  • Entertainment
Facebook X (Twitter) Instagram
The Meridian Spy
  • Home
  • News
  • Politics
  • Health
  • Business
  • Education
  • Opinion
  • Lifestyle
  • Entertainment
The Meridian Spy
Home»News»FG Pushes Local Power Components to Cut Forex Use
News

FG Pushes Local Power Components to Cut Forex Use

meridianspyBy meridianspyJanuary 22, 2026No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email
Share
    

Share!

  • Share
  • Tweet

The Minister of Power, Adebayo Adelabu, has challenged the Energy Commission of Nigeria and the Rural Electrification Agency to deepen collaboration aimed at boosting local production of electricity components, cutting imports, and conserving foreign exchange.

Adelabu said the proposed synergy between the two agencies would hinge on coordinated research, robust data gathering, and shared planning frameworks, stressing that these were critical to delivering President Bola Ahmed Tinubu’s reform agenda in the power sector.

The move comes amid rising concerns over Nigeria’s heavy dependence on imported meters, turbines, transformers, and other critical power infrastructure, a situation that has continued to strain foreign exchange reserves and slow electricity expansion despite decades of reforms.

The minister spoke on Tuesday during a meeting with the management of the ECN in his office in Abuja, according to a statement issued on Wednesday by his media aide, Bolaji Tunji.

Nigeria’s power sector, which has undergone multiple reforms since privatisation in 2013, continues to face structural challenges, including weak infrastructure, poor data management, and limited local manufacturing capacity.

Although successive governments have rolled out programmes to expand access, most power equipment is still imported, exposing the sector to currency volatility and supply disruptions.

Adelabu said the Tinubu administration was determined to change that narrative by ensuring that key electricity components are increasingly produced within the country.

He said the President was keen on fixing the power sector as a foundation for broader economic growth, adding that manufacturing critical inputs locally would be a major milestone of the administration.

READ ALSO  𝐋𝐚𝐠𝐨𝐬 𝐃𝐞𝐜𝐥𝐚𝐫𝐞𝐬 𝐓𝐡𝐮𝐫𝐬𝐝𝐚𝐲 𝐖𝐨𝐫𝐤-𝐅𝐫𝐞𝐞 𝐅𝐨𝐫 𝟐𝟎𝟐𝟔 𝐈𝐬𝐞𝐬𝐞 𝐃𝐚𝐲

“The ECN and the REA need to synergise. They need to come together, share research, and build data that will help the sector in the local production of electricity components. We must do everything possible in this regard, as this will make Mr President happy that, in his time, we are manufacturing meters and other critical inputs for ourselves. Today, we are happy that our exports are growing higher than our imports, and we must encourage this and conserve our foreign exchange,” Adelabu said.

The minister also emphasised the need for data, saying that “the absence of data is a serious challenge to us as we cannot plan without data and you cannot get accurate information without data.” According to him, the ministry is planning to have a central data pool and informed the ECN to be part of the process.

Adelabu disclosed that the ministry was working towards establishing a central data pool that would capture inputs from all key stakeholders across the electricity value chain, including generation and distribution companies. He urged the ECN to be fully integrated into the process.

To improve coordination, the minister also directed that the ECN be incorporated into the Power Sector Working Group, which meets quarterly, noting that its research mandate was vital to sector-wide decision-making.

Although Nigeria’s power mix is dominated by gas-fired plants, Adelabu emphasised the untapped potential of hydropower, particularly small hydro projects. He said over 300 small dams scattered across the country could be harnessed to improve the electricity supply, provided local capacity was developed in turbine production.

READ ALSO  Ogun Ex-Lawmaker Urges FG to Institutionalise Food Bank Programme

In his response, the Director-General of the ECN, Dr Mustapha Abdullahi, expressed the commission’s readiness to work closely with the Ministry of Power and other agencies to realise President Tinubu’s vision of using the power sector as a catalyst for economic turnaround.

Share this:

  • Share on WhatsApp (Opens in new window) WhatsApp
  • Tweet

No related posts.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
meridianspy

Related Posts

Ben Bruce to Governors: Spend 5% of FAAC on Transport Subsidy

August 22, 2026

EFCC, ICPC summon NFF officials over N12bn FG fund

August 21, 2026

Plane crash kills eight at US Air Force site in Alaska

August 21, 2026
Search
Recent Posts
  • Ben Bruce to Governors: Spend 5% of FAAC on Transport Subsidy
  • Kwara Politics: Senator Saliu Mustapha Resigns From APC
  • Oil Output Rises As Pipeline Losses Decline
  • EFCC, ICPC summon NFF officials over N12bn FG fund
  • Plane crash kills eight at US Air Force site in Alaska
  • Tinubu Orders Fresh Mapping of Nigeria’s Illicit Arms Network After 10 Years
  • CBN To Boost Digital Payment Adoption for economic Devt
  • Dangote Hikes Petrol Price as Crude Oil Hits $93
  • 𝐏𝐨𝐥𝐢𝐜𝐞 𝐖𝐚𝐫𝐧 𝐘𝐨𝐮𝐭𝐡𝐬 𝐀𝐠𝐚𝐢𝐧𝐬𝐭 𝐓𝐡𝐮𝐠𝐠𝐞𝐫𝐲, 𝐂𝐲𝐛𝐞𝐫𝐜𝐫𝐢𝐦𝐞 𝐈𝐧 𝐁𝐚𝐮𝐜𝐡𝐢
  • 𝐀𝐫𝐦𝐲 𝐑𝐞𝐬𝐜𝐮𝐞𝐬 𝟏𝟎 𝐂𝐢𝐯𝐢𝐥𝐢𝐚𝐧𝐬 𝐈𝐧 𝐒𝐨𝐤𝐨𝐭𝐨, 𝐊𝐞𝐛𝐛𝐢, 𝐙𝐚𝐦𝐟𝐚𝐫𝐚
  • 𝐀𝐏𝐂 𝐂𝐡𝐢𝐞𝐟𝐭𝐚𝐢𝐧 𝐋𝐚𝐮𝐝𝐬 𝐓𝐮𝐧𝐣𝐢-𝐎𝐣𝐨’𝐬 𝐃𝐢𝐫𝐞𝐜𝐭 𝐑𝐞𝐥𝐢𝐞𝐟 𝐓𝐨 𝐎𝐧𝐝𝐨 𝐅𝐥𝐨𝐨𝐝 𝐕𝐢𝐜𝐭𝐢𝐦𝐬
  • FG Commences Construction of 250-unit Housing Estate for Civil Servants
  • 𝐄𝐱𝐩𝐞𝐫𝐭 𝐖𝐚𝐫𝐧𝐬 𝐀𝐠𝐚𝐢𝐧𝐬𝐭 𝐔𝐬𝐢𝐧𝐠 𝐏𝐚𝐥𝐦, 𝐕𝐞𝐠𝐞𝐭𝐚𝐛𝐥𝐞 𝐎𝐢𝐥 𝐀𝐬 𝐒𝐞𝐱𝐮𝐚𝐥 𝐋𝐮𝐛𝐫𝐢𝐜𝐚𝐧𝐭
  • 𝐄𝐱-𝐙𝐚𝐦𝐛𝐢𝐚𝐧 𝐌𝐢𝐧𝐢𝐬𝐭𝐞𝐫 𝐊𝐢𝐥𝐥𝐞𝐝 𝐃𝐮𝐫𝐢𝐧𝐠 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐑𝐚𝐢𝐝, 𝐏𝐨𝐥𝐢𝐜𝐞 𝐂𝐨𝐧𝐟𝐢𝐫𝐦
  • Atiku: I will restore petrol subsidy if elected president
Categories
  • Business
  • Crime
  • Education
  • Entertainment
  • Environment
  • Foreign
  • Health
  • Investigations
  • Labour
  • Lifestyle
  • Metro
  • News
  • Opinion
  • Politics
  • Security
  • Sport
  • Technology
  • World news
Access Bank DiamondXtra Season 16 Rewards
  • About us
  • Contact Us
  • News
  • Politics
  • Health
© 2026 All Right Reserved. Designed by Techjuno

Type above and press Enter to search. Press Esc to cancel.