Chief Adebayo Adelabu, the Honorable Minister of Power, has delivered a strong message to the management of three of the critical agencies within the power sector – the Nigerian Electricity Regulatory Commission (NERC), the Transmission Company of Nigeria (TCN), and the Rural Electrification Agency (REA). He declared that the era of “business as usual” is over under his ministerial oversight.
During a recent meeting with the CEOs and management of these agencies, the Minister expressed his appreciation for their past efforts. He particularly praised NERC for its role in the recently signed Nigeria Electricity Act 2023, which has opened up opportunities for potential investors in the power sector by unbundling its segments, making it attractive to private investors and sub-national governments. This move aims to provide reliable, functional, and affordable power to households, small businesses, and industries in Nigeria.
Furthermore, Chief Adelabu acknowledged TCN’s efforts in expanding and stabilizing the National Grid to ensure uninterrupted and reliable power transmission across Nigeria. He also commended the Rural Electrification Agency for extending conventional and renewable energy to unserved and underserved rural communities.
However, the Minister emphasized that these efforts must translate into tangible benefits for ordinary Nigerians and industries. He stressed the importance of achieving positive results, as substantial resources from both the government and international development partners have been invested in the power sector without significant improvements in reliability and functionality.
Chief Adelabu made it clear that performance is the only option during his tenure, underlining the need for effective coordination and harmonization of all segments in the value chain. He emphasized that each segment should complement the others, as the strength of the entire chain depends on its weakest link. He concluded by assuring his full support to the agencies as long as they cooperate in this challenging task and hinted at upcoming visits to major project sites of these agencies as part of his stakeholder engagement efforts.
