The Nigerian government seeks a $10 billion investment in the power sector through Public-Private Partnerships (PPP) over the next 5-10 years to provide 24-hour electricity. Minister Adebayo Adelabu and ICRC DG Dr. Jobson Ewalefoh emphasize the role of private sector funding in improving the nation's power infrastructure.
In a recent development, Nigeria’s Federal Government has emphasized the need for an estimated $10 billion investment through a Public-Private Partnership (PPP) model to secure consistent, 24-hour electricity across the nation over the next five to ten years. During a visit from the Infrastructure Concession Regulatory Commission’s (ICRC) Director-General, Dr. Jobson Ewalefoh, Minister of Power Adebayo Adelabu highlighted the importance of private sector collaboration to address Nigeria’s power supply issues, noting that current government resources are insufficient for the scale of investment required.
Adelabu elaborated on the necessity for organized private-sector funding, especially given the demand from other critical sectors competing for government support. "Government cannot shoulder this alone; hence, we are inviting the private sector to play a pivotal role while ensuring that government interests and ownership remain protected," Adelabu explained, pointing to concession as a viable approach.
Dr. Ewalefoh echoed the minister’s call for investment, emphasizing that modernizing Nigeria’s power infrastructure is crucial to the nation’s economic growth. He noted that ICRC’s role would be to oversee private sector involvement in the sector, ensuring that investments align with regulatory standards and maximize the potential for long-term infrastructure improvements.
The ICRC chief affirmed that a structured approach to PPP could attract foreign direct investment, ultimately creating a stable electricity system crucial for Nigeria’s development. This collaboration, he added, is essential for overcoming the sector’s challenges and achieving sustainable, round-the-clock electricity for Nigerians.
