Minister of Power, Adebayo Adelabu has recently warned Nigerians to comply to the current hike in tariff else, they will face total blackouts.
His statement before the Senate Committee on Power emphasizes the urgent need for action to address the pressing issues within the sector.
Adelabu’s assertion that the entire sector would suffer without tariff adjustments highlights the delicate balance between revenue generation, infrastructure maintenance, and service delivery.
He explains that significant financial investment, totaling $10 billion annually for the next decade, is required to revitalize the nation’s power sector.
This investment is crucial to ensuring stability and reliability in power supply across Nigeria.
Furthermore, Adelabu emphasizes the importance of making the power sector attractive to investors and lenders to drive much-needed improvements in infrastructure and efficiency.
Acknowledging the government’s financial constraints, including outstanding subsidy payments amounting to N2.9 trillion, underscores the complex financial dynamics at play.
Adelabu calls for measures to sustain the sector despite limited resources, highlighting the need for innovative solutions and strategic planning.
