FG bets on power grid to hit $1trn economy by 2030

The Federal Government has revealed that it is intensifying investments in transmission infrastructure, strategic partnerships, and innovative financing models. The goal is to accelerate its ambition of building a one-trillion-dollar economy by 2030.
Minister of Power, Joseph Tegbe, said the target is to improve transmission capacity, enhance grid reliability and increase power supply to strategic economic corridors across the country.

Tegbe spoke on Thursday at the 6th Annual Conference of the Power Correspondents Association of Nigeria in Abuja. He named grid stabilisation, sector liquidity and sustainability, asset optimisation, and grid expansion as the four pillars of the power roadmap. He said over 15,000 megavolt-amperes (MVA) of transmission capacity were added to the national grid between 2023 and October 2026.

On financing, he said the government has raised ₦1.23 trillion under a ₦3.3 trillion plan approved to settle verified legacy debts owed to generation companies. The money eases pressure on generators and improves their ability to pay for gas supplies and maintain their plants.
The Presidential Metering Initiative has supplied over 2.8 million meters to cut revenue losses from un-metered consumption. The Rural Electrification Agency has also connected universities, hospitals, and rural communities to solar power. Tegbe described vandalism as a serious threat that damages infrastructure and disrupts supply.

Kenny Anuwe, Managing Director of FGN Power Company Limited, said Nigeria could not reach a trillion-dollar economy if government kept providing almost all the investment in the power sector. He added that reliable and affordable electricity was fundamental to achieving the ambition.
The Transmission Company of Nigeria (TCN) says its wheeling capacity has grown from about 7,000MW to 8,700MW. Citing the Nigerian Electricity Regulatory Commission, it puts installed generation capacity at 13,625MW, while the highest power ever delivered to the grid is 5,801.84MW.

In addition, TCN said it commissioned 82 transformers between January 2024 and November 2025, adding about 8,500MVA, backed by more than $1.4 billion in multilateral financing. The company also rejected claims that transmission is the main cause of the electricity shortfall, saying the limit lies in generation availability.
Federal Government has set a target to wheel 6,000MW to the national grid by December 2026. TCN has said, “The transmission grid is ready and continues to expand.”