Minister of Power, Adebayo Adelabu, has set a goal of increasing national grid to 20,00MW in the next three years.  He made the pledge at the Nigeria Energy Leadership summit in Lagos, where he acknowledged that the greatest challenges in the sector were reliability and universal access to power for served and underserved communities.

The minister stressed that the industry should be able to evacuate and transport power at the minimum of 80 per cent of stored capacity to end users.
 
Adelabu maintained that the 2023 Electricity Act promotes country’s industry landscape, describing the law as a game changer that would foster nuclear energy supply chain, enhance regulatory oversight, clean energy transition, improved sale delivery and infrastructure development. 
 
He pointed out that the piece of legislation would stimulate economic growth by creating an environment conducive to investment and competition, generate job opportunities, encourage entrepreneurship, and attract foreign direct investments (FDIs).

Adelabu added that achieving the medium-term target of 30,000MW by 2030 and long- term plan of 60,000MW by 2060, was possible, referencing South Korea. He urged operators in the value chain to collaborate for grid improvement.
 
Also, Exhibition Director, Nigeria Energy, Informa Markets, Ade Yesufu, said with a $20 billion investment plan, new power plants and transmission lines would be established to boost electricity generation and grid stability.