Power Minister Blames Poor Financing For Epileptic Power Supply

The Minister of Power, Adebayo Adelabu, has pointed to insufficient financing and inadequate gas supply as primary contributors to Nigeria’s persistent energy deficit.

The Publisher reports that Adelabu made this statement during his opening address at an interactive dialogue in Abuja for power sector stakeholders organized by the House of Representatives Committee on Power.

Addressing stakeholders, including the Speaker of the House of Representatives, Tajudeen Abbas; Chairman of the Senate Committee on Power, Enyinnaya Abaribe; and his counterpart in the House, Victor Nwokolo, as well as Kola Adesina, Group Managing Director of Sahara Power Group, Adelabu detailed the challenges plaguing the power sector.

“No sector can function optimally without the power sector. Over the years, poor financing, and inadequate gas supply have been responsible for the energy deficit we have in the country. But a lot of work is going on to address these challenges,” the Minister said.

He also reassured attendees of President Bola Tinubu’s administration’s commitment to overcoming these hurdles to make Nigeria a more conducive environment for business operations.

Stakeholders at the event stressed the importance of collaborative efforts between the government and private sector to enhance the infrastructure and regulatory frameworks that support energy production and distribution.

The consensus underscored the need for innovative financing mechanisms and increased investment in the gas supply chain to meet the country’s growing energy demands.