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Buhari Unveils New Electricity Target For 2021, 2023
President Muhammadu Buhari has unveiled a new power target for the country, following the signing of Electricity Road Map Agreement between the Federal Government and German-based Siemens.
The signing of the implementation agreement was held at the Presidential Villa, Abuja on Monday.
The Director General of the Bureau of Public Enterprise, BPE, Dr. Alex Okoh signed on behalf of the Federal Government and the Chief Executive Officer of the Siemens, Mr. Joe Kaeser signed for the firm.
The deal was the product of a meeting President Buhari held with German Chancellor, Angela Merkel on August 31, 2018.
Speaking during the signing of the agreement, the President said that the government’s goal is to deliver electricity to Nigerian businesses and homes.
The target are in three phases. 7,000 megawatts in 2021, 11,000 in 2023 when the President’s second term will elapse. The final phase has a target of 25,000mw.
The President said: “My challenge to Siemens, our partner investors in the Distribution Companies, the Transmission Company of Nigeria and the Electricity Regulator is to work hard to achieve 7,000 megawatts of reliable power supply by 2021 and 11,000 megawatts by 2023 – in phases 1 and 2 respectively.
“After these transmission and distribution system bottlenecks have been fixed, we will seek – in the third and final phase – to drive generation capacity and overall grid capacity to 25,000 megawatts.”
He said, with the strong commitment to the development of Mambilla Hydroelectric and the various solar projects under development across the country, the long-term power generation capacity will ensure adequate energy mix and sustainability in the appropriate balance between urban and rural electrification.
“Our intention is to ensure that our cooperation is structured under a Government-to-Government framework. No middlemen will be involved, so that we can achieve value for money for Nigerians. We also insist that all products be manufactured to high quality German and European standards and competitively priced.
“This project will not be the solution to all our problems in the power sector. However, I am confident that it has the potential to address a significant amount of the challenges we have faced for decades,” he said.
“It is our hope that as the power situation improves, we will improve investor confidence, create jobs, reduce the cost of doing business and encourage more economic growth in Nigeria,” he said.
President Bola Ahmed Tinubu has said that Nigeria is moving forward regardless of critics of his economic policies.
Tinubu disclosed this during his maiden media chat aired on Monday from Lagos.
This comes as the president insisted that the country is on a path of recovery despite economic hardship.
Speaking on the 2025 N49.7 trillion budget proposal, he reiterated it is a restoration of hope.
He called for understanding and cooperation from Nigerians amid the prevailing economic realities.
“Nigeria is moving forward regardless of critics. This is a budget of restoration of hope, and Nigeria is on the path of recovery. We can’t finish the job in one calendar year,” he declared.
President Bola Tinubu has appealed to Nigerians to learn to manage by switching off their lights.
Tinubu advised that switching off lights would reduce electricity bills.
He spoke during his presidential media chat with journalists in Lagos State.
According to Tinubu: “It’s not negative to learn to manage. You learn to control your electricity bill, switch off the light, let’s learn to manage.”
The president also said he does not believe in price control and he won’t toe that path.
“I don’t believe in price control, we will work hard to supply the market,” he said.
Upon his assumption of power, Tinubu government had hiked the electricity tariff and removed the subsidy on fuel.
On April 3, 2024, the electricity regulator raised tariff for customers said to be under the Band A classification, with customers now paying N225 kilowatt per hour from N66.
This move was heavily criticized due to the further hardship it brought upon Nigerians.
Despite widespread criticism, President Bola Ahmed Tinubu has declared that Nigeria is on the verge of recovery, citing successes in security, financial discipline, and grassroots development.
Tinubu stated this during his first Presidential Media Chat, which was broadcast nationwide.
During his speech, Tinubu emphasized security improvements, claiming significant progress in making previously dangerous routes safe to travel.
“Two decades of wanton killings have been addressed. Today, you can travel the roads. Before now, it was impossible,” he said, adding that the military remains vigilant against both internal and external threats to ensure the safety of citizens.
On fiscal management, the President emphasized the administration’s efforts to abandon the former “ways and means” paradigm, claiming that the government now runs with financial control and budgetary discipline.
“We have more revenue being generated and distributed,” Tinubu noted.
Nigeria moving forward regardless of critics – Tinubu
Learn to manage, switch off your lights – Tinubu tell Nigerians
Nigeria on path to recovery despite criticism, says President Tinubu
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