The government plans to invest $20 million, according to power minister Adebayo Adelabu, to increase electricity production to 20,000 megawatts by 2026.
On Tuesday, he revealed this during the current Nigeria Energy Conference.
He pointed out that the scenario amounted to a waste of money if the nation cannot transmit 80% to 85% of its generated power to electrical users.
According to Adelabu, the government and all involved in the electricity industry must strive diligently to close Nigeria’s 8 million metering deficit.
He declared: “We are squandering assets if we can’t provide 80% to 85% of the power generated to customers. We must make investments in metering technology; if we can close the 8 million metering gaps in Nigeria, create technology to monitor collections, and collect up to 90% of the electricity provided, liquidity in this nation is guaranteed.
“Through a number of initiatives, the Nigerian government is actively expanding the electricity industry. New power plants and transmission lines will be built with a $20 billion investment plan to increase electricity output and system stability.
His remark follows the return of the nationwide grid breakdown.
The grid reportedly fell three times in less than a week, according to sources.
