The Minister of Power, Adebayo Adelabu, has disclosed that the country is on track to add an additional 150 megawatts of electricity to its national grid before the end of the year, following the successful completion of the pilot phase of the Presidential Power Initiative (PPI).

He made the disclosure to State House Correspondents after a closed door meeting with President Bola Tinubu and President of the Federal Republic of Germany, Frank-Walter Steinmeier at the Presidential Villa, Abuja.

Giving insights into what transpired at the meeting, Adelabu, explained that the initiative, which is being implemented in collaboration with Siemens, aims to enhance Nigeria’s electricity supply through a series of strategic projects.

“We believe that before the end of the year, an additional 150 megawatts will be added upon completion of the entire pilot phase.”

Minister of Power outlined significant advancements in the country’s energy sector, emphasizing the crucial role of international collaboration, particularly with Germany.

“We have a bilateral relationship with the Republic of Germany that focuses on energy and electricity support,” the minister stated. “The name of the game now is about cooperation, collaboration, and partnership.” He highlighted the Siemens project as a flagship component of this relationship, aimed at implementing both Brownfield and Greenfield transmission substations under the PPI.

He noted that since signing the agreement in December 2023 during COP 28 in Dubai, Nigeria has made substantial progress. “We have completed the pilot phase of this project up to 80%,” he noted. This phase includes the importation and installation of 10 power transformers and 10 mobile substations, with eight already commissioned.

“The positive impact of this is that it has added nothing less than 750 megawatts to our transmission grid capacity,” he explained, attributing the current stability in electricity supply to this achievement.

He said the next phase will involve rehabilitating 14 existing substations and establishing 23 new ones across Nigeria.

“The entire grid is quite fragile and dilapidated,” he lamented. “We need to revamp it to ensure stability going forward.” He reiterated that these efforts are essential for transforming Nigeria’s energy landscape, aligning with President Bola Tinubu’s Renewed Hope Agenda.

In addition to addressing immediate power needs, Adelabu emphasised Nigeria’s commitment to renewable energy as part of its long-term strategy. “We have an energy transition plan to achieve net-zero emissions by 2060,” he said.

He pointed out that Germany’s expertise in renewable technologies aligns perfectly with Nigeria’s abundant natural resources. “Germany has technology; we have the sun and wind,” he added, highlighting that over 30 states in Nigeria enjoy a minimum of 10 hours of sunshine daily.

The minister also discussed plans for off-grid solutions, advocating for a distributed power model where each state would have its own generating plants. “This model will shield states from problems on the national grid and ensure rural electrification,” he explained.

Germany’s involvement extends beyond traditional energy sources; it includes significant investments in green energy projects.

The Minister of Power reaffirmed his commitment to advancing policies that enhance energy access and sustainability across the nation. “Together with our partners, we can build a robust energy infrastructure that supports economic growth and improves quality of life for all Nigerians,” he declared.

The German Consul General in Lagos, Weert Borner, recently announced that Germany has added 670 megawatts to Nigeria’s grid capacity in 2024 alone through their ongoing partnership. “This partnership is vital for improving electricity access for final consumers,” Borner remarked during an interview.

Additionally, Nigeria is set to benefit from Germany’s ambitious €4 billion investment in green energy projects across Africa by 2030.

DailySun

Lagos State Governor, Babajide Sanwo-Olu, has reaffirmed his administration’s commitment to initiatives that foster inclusivity, economic empowerment, and poverty reduction.

He made this pledge during the 2024 Micro Enterprise Support Initiative (MESI) for vulnerable and indigent residents, organised by the Ministry of Women Affairs and Poverty Alleviation (WAPA) in Agidingbi, Ikeja, on Wednesday.

At the event, approximately 1,500 residents were provided with various empowerment tools, including sewing and stoning machines, pepper grinders, hairdryers, barbing kits, cake mixers, welding machines, tiles-cutting machines, and more.

Governor Sanwo-Olu emphasized that this initiative exemplifies his administration’s dedication to creating a Greater Lagos, where every resident has the opportunity to thrive and contribute to collective progress.

The governor explained that the MESI programme extends beyond offering financial aid to residents. He stressed that it focuses on building a foundation for self-reliance, driving economic growth, and unlocking the potential of women.

“It ensures that every woman, regardless of background or circumstance, has access to the tools and resources needed to transform her life, community, and Lagos State,” he stated.

Governor Sanwo-Olu further highlighted the importance of skill acquisition, capacity building, and financial empowerment, stating that the government is working towards a future where poverty is eradicated, and prosperity becomes a reality. He encouraged the programme’s beneficiaries to use the tools and resources wisely to grow their businesses, enhance their livelihoods, and inspire others in their communities.

“Remember, this programme is just the beginning. Your success will contribute to the larger success of Lagos State,” he added.

Also speaking at the event, the Commissioner for Women Affairs and Poverty Alleviation, Cecilia Bolaji-Dada, described the initiative as a beacon of hope for aspiring entrepreneurs in Lagos. She commended Governor Sanwo-Olu for his steadfast support of Lagos communities and for making the Micro Enterprise Support Initiative possible.

Bolaji-Dada detailed the variety of tools distributed, which were selected to meet the diverse needs of entrepreneurs. These included stoning machines, pepper grinders, sewing machines, hairdryers, barbing kits (including clippers, sterilizers, and generators), standing facial steamers, aluminum cutting machines, two-phase burners (with 30-inch cooking pots and 12.5kg cylinders), cake mixers, welding machines, agricultural items (fertilizers, knapsacks, and seeds), and cash grants.

“These tools are not just instruments of trade, but instruments of transformation, designed to help you grow your businesses and uplift your communities,” the commissioner said.

She urged beneficiaries to fully embrace the opportunities before them and work diligently toward realizing their entrepreneurial goals.

DailySun

Federal Government is to benefit from a $500 million loan facility from the World Bank for the Human Capital Opportunities for Prosperity and Equity (HOPE) project in the country.

Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, made this known during a courtesy visit on him by the International Monetary Fund (IMF) Mission Chief for Nigeria, Mr. Axel Schimmelpfennig

The loan facility, according to the minister, will increase the availability and effectiveness for financing for basic education and primary health care in the various states of the federation.

The fund, he said, will enhance transparency and accountability for basic education and primary health care in addition to improving recruitments, deployments and better performance management of teachers.

While appreciating the support of the World Bank, Bagudu elucidated that the Nigerian Constitution is the legal framework that provides the rules and procedures that guides the budget process in addition to empowering the federal and state governments to make expenditures in the preceding year for the purpose of meeting expenditure necessary to carry on the services of the government.

“This expenditure can continue for a period not exceeding six months or until the coming into operation of the law as can be seen on Chapter 5, Part 2 Section 122 of the Nigerian Constitution” he said

Bagudu explained further that the reforms embarked on by the Bola Ahmed Tinubu’s administration were aimed at developing and implementing economic and tax reforms that will guarantee more functional Public Financial Management (PFM) systems in the country.

“The economic reforms are necessary decisions to put the Nigerian economy on the right track”he explained

He assured the IMF Team that though Nigeria is experiencing a number of challenges such as hardship of citizens as a result of removal of fuel subsidy, floating of foreign exchange, electricity reforms that distributed citizens into bands, Nigeria is on course to economic recovery.

In a statement, the minister appreciated the willingness of the IMF to support Nigeria but however called for more support in the area of resource mobilisation from multinational partners in order for government to provide developments in all sectors of the economy.

Earlier, the International Monetary Fund (IMF) Mission Chief for Nigeria, Mr. Axel Schimmelpfennig said he was in the country to have interactions with the minister on the workings of the Nigerian budgeting process with particular emphasis on the simultaneous implementation of the 2023/2024 budgets and supplementary budgets in the same year in preparation for the publication of the 2025 annual report of the World Bank.

Schimmelpfennig welcomed the tax reforms of the federal government as increased revenue generation will ensure more developments for Nigerian citizens and thus promised the country of more IMF support for Nigeria’s developmental needs.

Permanent Secretary, Ministry of Budget and Economic Planning, Dr. Vitalis Emeka Obi, briefed the team on the ministry’s role in co-ordinating Nigeria’s development planning and budgeting processes. The Permanent Secretary emphasised that 2025 promises to be a year of more rapid investments.

DailySun