Nigeria’s Power Sector Set to Seek $10 Billion in Private Investment for 24-Hour Electricity Supply
The Nigerian government aims to bridge a $10 billion investment gap in the power sector through Public-Private Partnerships (PPP) over the next decade, according to recent discussions between Dr. Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC), and the Minister of Power, Chief Adebayo Adelabu. The meeting concluded that private sector collaboration is essential for the financing and technical expertise required to revamp Nigeria’s power infrastructure, as government resources alone are insufficient.
ICRC’s Ewalefoh highlighted the importance of strategic planning and private sector investment to address the nation’s electricity challenges, emphasizing that PPPs offer a viable pathway for mobilizing funds and expertise. He outlined a six-point policy directive, aimed at streamlining PPP processes and ensuring that defaulting parties in power agreements face automatic contract termination. This regulatory approach is designed to attract reliable private investment while protecting government interests.
Minister Adelabu further reinforced the government’s commitment to achieving uninterrupted electricity nationwide within five to ten years. He estimated that at least $10 billion is needed to reach this goal, asserting that PPPs will be critical in maintaining government ownership while mobilizing private capital. The ICRC and Ministry of Power will drive efforts to secure private sector co-financing, focusing on concession models to attract investment and drive sectoral growth.
