Power Sector And Other Related News Stories For Wednesday September 20th 2023
Govt to Invest $20bn in Power, Targets 20,000MW by 2026
The Federal government in a bid to boost electricity generation, and national grid stability, is planning to invest $20bn investment in new power plants and transmission lines, The PUNCH have learnt.
This was revealed by the Power Minister, Adebayo Adelabu at the opening ceremony of the ongoing Nigeria Energy Summit in Lagos on Tuesday.
While delivering his address at the summit; Adelabu said FG would grow the power sector in 2023 and beyond through huge investments.
“The Nigerian government is actively advancing the power sector through various measures. With a $20 billion investment plan, new power plants and transmission lines are set to be established to boost power generation and grid stability,” he said
Electricity Supply Crashes 97% to 88MW As Grid Collapses Again
Homes and businesses were again left without public power supply yesterday as the national power grid dropped by 97.1 percent from 3,152.7MW at 11am to 88MW by 12 noon.
Data from the National System Operator, NSO, showed that as at 5pm, the Transmission Company of Nigeria, TCN, was still battling to restore the grid as supply rose to 246MW with Afam VI (1.6MW), Ibom Power (70MW), Olorunsogo Plant (58.6MW), Omotosho Plant (67.9MW), and Trans-Amadi (47.7MW), the plants on the grid.
Minister Says Nigeria Will Soon Increase its Power Generation
Speaking at the opening ceremony of the 10th Nigeria Energy which was held in Lagos, the Minister of Power, Adebayo Adelabu, said the country will soon breathe a sigh of relief as power capacity will soon be increased. A 20,000 megawatts (MW) from 12,522 MW is projected within the next three years, implement the 2023 Electricity Act, and prioritize universal metering to close over eight million metering gaps.
Addressing stakeholders and participants at the event, the Minister thanked President Bola Tinubu for signing and approving the Electricity Act.
According to him, as a politician and Minister, I have a limited amount of time to spend in the power Ministry and I am committed to making a lasting impact in the sector before leaving.
National Grid Collapses Again, Generation Drops to 42.7MW
Nigeria’s electrical supply has once again collapsed, with power output falling from a peak of 3,594.60 megawatts (MW) at midnight to a mere 42.7MW.
At noon on Tuesday, only the Delta Power plant had 41.00 MW of operational power on the grid, while Afam had 1.7 MW.
At 11:32 a.m., the commercial hub of Lagos lost power supply from the grid. It is now blamed to be a national system collapse.
This is the third collapse in less than a month that the Nigerian national grid has collapsed, and it comes barely five days after the grid collapsed twice within a space of more than 12 hours.
Efficient Power Supply Key to Economic Growth — Adelabu, Power Minister
This was the submission of the Minister of Power, Chief Adebayo Adelabu, at a reception organized in his honour by the committee of friends to celebrate his appointment and to pledge their support to him in his new task.
He said his decision to resign from the Central Bank of Nigeria (CBN) as deputy Governor and joining politics in 2018 was a blessing in disguise, saying that if he had not resigned, he would have been part of the current crisis (around the apex bank), which he said would have prevented his appointment as Minister of Power.
“Fixing the power sector will require effective management and leadership to coordinate all the available resources, aside from adequate funding. This sector is the most sensitive sector in the economy that must not be held with levity.
Expert Proposes Renewable Energy to Curb Epileptic Power Supply
An IT expert and emerging renewable energy proponent Osunleke Akinwumi Opeyemi, has urged government at all levels to take alternative energy solutions seriously.
Opeyemi made the call Tuesday while speaking exclusively to Blueprint on the recent national grid collapse which affected the entire 36 states and the Federal Capital Territory (FCT).
He expressed worry that the grid has collapsed multiple times in recent years, lamenting that the latest collapse is just one of the many incidences across the country.
He maintained that no nation can move forward with epileptic power supply as businesses will not thrive.
He therefore harped on the need for government to embrace a more sustainable alternative energy solutions, stressing further that no nation can move forward with epileptic power supply as businesses will not thrive.