The Minister of Power, Adebayo Adelabu has attributed the low level performance of the power sector in Nigeria resulting into epileptic power supply to shortage of gas, ageing machines in the grid value chain, low capacity to evacuate generated power, and destruction of power stations in some parts of the North-East geopolitical zone of the country.
He made the revelation in Abuja while speaking with Journalists on the state of power sector in the country.
According to Adelabu, coming from inappropriate tariff regime, poor collections and inadequate funding of government subsides leading to huge debt owed to the transmission, generation and gas companies, this has restricted investments required for sustaining supply flow, capacity extension and infrastructural improvements. He added that the crisis in the power sector had been so complex, stressing that the national grid had collapsed for about six times between December 2023 and now.
Adelabu added that the crisis which he said could be well handled and managed effectively has further been compounded by lack of sustaining liquidity and infrastructure funding as well as structural misalignment.
He empathized the need to settle the sectoral debt obligations to the Gas supply and power generating companies which is now at #1.3trilion to Gencos and $1.3 billion to discos for sustainable power supply across Nigeria.
Other stakeholders at the event corroborated the position taken by the Minister and promised the optimal performance of their respective sectors.
They however emphasized the need to put an end to the constant vandalization of power installation across the country for improve service delivery.
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