President Bola Tinubu says the Federal Government will inaugurate a Presidential task force to monitor and ensure the progress of the deployment of key projects in the power sector.
“This includes projects that will help un-constrain the grid and deliver the full available generation capacity to our homes and factories. The president added that the Federal Government would accelerate the pace of deployment of renewables and solar energy in the right places. “The national grid only serves about 15 per cent of the country’s demand. This has left households and factories to rely on expensive self-generation, which supplies a staggering 40 per cent of the country’s demand.
He therefore, reiterated government’s commitment to providing the enabling environment that would unleash private sector capital in the power sector. “Most countries throughout the world do not privatise their electricity supply value chain from generation to distribution. Adelabu said that 10 years down the line of privitasation, there was need to look at the technical capacities and investments made by the Distribution Companies and the Generation Companies .