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  FG Approves Historic NYSC Reform, Introduces Tech-Driven Mobilisation, Skills-Based Service

“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  US Supreme Court Upholds Birthright Citizenship, Rejects Trump's Restriction Bid

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

NDC Secures INEC Portal Access Despite Court Cas

July 1, 2026

Ebola: Experts Warn Nigerians Against Spreading Misinformation

July 1, 2026

FG Unveils 14 Funding, Skills, and Enterprise Opportunities for Nigerian Youths

July 1, 2026
Search
Recent Posts
  • NDC Secures INEC Portal Access Despite Court Cas
  • Ebola: Experts Warn Nigerians Against Spreading Misinformation
  • CBN Revokes Licences of 46 Microfinance Banks
  • FG Unveils 14 Funding, Skills, and Enterprise Opportunities for Nigerian Youths
  • Abia Qualifies for $500,000 World Bank-Backed Governance Grant
  • Troops Rescue Six Kidnap Victims in Katsina
  • US Supreme Court Upholds Birthright Citizenship, Rejects Trump’s Restriction Bid
  • State Police: Nigeria Must Choose Between Reform and Rising Insecurity — Jude Imagwe
  • South Africa deploys police as anti-migrant protests loom
  • Five-month crude exports fetch Nigeria N20tn
  • FG Urges Marketers to Cut Fuel Costs as Oil Falls
  • 16-Year-Old Girl Emerges Nigeria’s Youngest Chartered Accountant
  • High Court Gives INEC 72 Hours to Register ADA
  • Onyeka Completes Permanent Move to Coventry City
  • NDLEA arms officers with AK-47s to fight drug cartels
Categories
  • Business
  • Education
  • Entertainment
  • Foreign
  • Health
  • Investigations
  • Lifestyle
  • News
  • Opinion
  • Politics
  • Sport
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.