The federal government says it would close the metering gaps and address the financial liquidity challenges facing Nigeria’s power sector. Olu Verheijen, special adviser on energy to President Bola Tinubu, gave the assurance on Wednesday during a session at the 2024 edition of CERAWeek, organised by S&P Global Holding in Houston, the United States. The session was themed, ‘Energising Tomorrow: Charting a Successful Path For Africa’s Energy Transition’.
In her remarks, Verheijen said the federal government is working on several initiatives to decentralise transmission and make sure that it is closer to the markets where there is electricity demand.On the distribution side, she said different technologies are being deployed by the government to ensure more supply of electricity — especially for high-consuming customers. The presidential adviser added that a lot of creative initiatives are being implemented to de-risk the power sector in Nigeria, despite the fiscal constraints. She said while the International Energy Agency (IEA) had estimated an investment gap of $190 billion, the government may be unable to raise such funding considering the tight fiscal environment currently.“So, if you look at this scale of investments that are required, you know, some entities like IEA have estimated about $190bn a year, we don’t have the fiscal space for that,” Verheijen sai
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