Adebayo Adelabu, Minister of Power has revealed that Nigeria requires an investment of $10 billion annually over the next 10 to 20 years to achieve stable and reliable electricity supply,
Adelabu stated this on Tuesday while speaking with journalists after commissioning a 2.5 megawatts (MW) solar hybrid power project at the Nigerian Defence Academy (NDA) in Kaduna.
He said the power sector has suffered from six decades of infrastructure deficits caused by inadequate maintenance, limited investment, and failure to upgrade transmission systems.
The minister stated, “For us to achieve functional reliable and stable electricity in Nigeria, we need not less than $10 billion annually for the next ten to twenty years,”
“But there are some foundational bottleneck that we experienced in the past that need to be fixed for the spending of this money to have meaning.”