Olu Verheijen, President Bola Tinubu’s energy special adviser, has highlighted ongoing government efforts to reduce risks in the power sector to attract investments.
Speaking at the 2024 CERAWeek by S&P Global event in Houston, Verheijen outlined various creative initiatives being implemented to achieve this goal. She emphasized the scale of investments needed, estimated at around $190 billion annually by entities like IEA, which exceeds Nigeria’s fiscal capacity.
To address this challenge, the federal government is focusing on decentralizing transmission to bring it closer to areas with high electricity demand.In addition to transmission decentralization, the government is employing different technologies on the distribution side to ensure a more reliable supply of electricity, particularly for high-consuming customers.
Source: Business Day