I'm Proud of My Two Years in Office, Says Ex Minister of Power
As the Minister of Power for two years, I became one of the most recognizable faces of Nigeria. This is my take on what we achieved, why it matters, and how to build on it.
Nigeria has witnessed unprecedented growth in the power sector, with our installed capacity increasing from 11,000MW to 23,000MW in just two years. The National Grid has become more stable and reliable. And we’ve seen a dramatic reduction in power theft. The Nigerian Government has also increased gas supply by 15% since January 2015, which means that Nigeria now produces nearly 5 billion cubic feet of gas per day. With increased gas supply, Nigeria is now producing 6,000 megawatts of electricity through the use of gas turbines. And it’s predicted that the country will be able to produce 10,0
The Power Revolution
We’ve undertaken a number of initiatives to support the private sector, including an auto policy that supports the drive to move from the traditional to the new energy economy. And we’ve also launched the Private Sector Infrastructure Financing Initiative to provide $4 billion in long term financing to help build critical power infrastructure. Additionally, the Government is supporting the Renewable Energy Producer Programme to boost the use of clean renewable energy and expand generation and distribution capacity across the country. A Vital Step The key to Nigeria’s energy future is a combination of sustainable public and private investment.
What led to the power revolution?
What has enabled us to drive the power revolution is a comprehensive process and a number of interventions. We identified some of the bottlenecks and we did a thorough work. We have to have the political will. And because there is no nation on earth that can move very fast if the majority of the people do not want it to move. I spent the better part of the last two years convincing my countrymen and women to be patient, to be understanding and that we were putting in place a process that would give them a better life. We must remember that the recent past was not good for our economy. Many businesses had to close down. And I believe it was for a very good reason. Those businesses were not making money and had to close down. It wasn’t the fault of the entrepreneurs.
The Challenges of the New Power Revolution
Our current challenges, however, are twofold. First, too many people still live without electricity. That means that there is still a lot of work to be done before everyone has access to reliable, efficient, affordable, modern electricity. And that is why I am now rolling out an ambitious program of electric power revolution across Nigeria. Second, people don't know how to use electricity. Our current power distribution network is extremely congested. And many places don't have regular power. This means that many homes use generators to keep the lights on. And in many places, the owners don't know how to use the generator properly. They don't know how to get their money back when they use it, or how to dispose of it.
I urge you to reflect on the progress we have made and take ownership of your future. And when we are done with these massive job creation projects, we will enter into a robust diversification phase. We will focus on agriculture, manufacturing, solid minerals, processing and tourism. With our large population and abundant resources, Nigeria has a lot to offer the world. And together, we will build an even more prosperous country. And let me assure you of my commitment to this ongoing journey to prosperity. Please pray with me, in your heart, for the Almighty God to keep us and our families safe, to keep our economy growing, and for wisdom, perseverance, and protection from our adversaries. In Jesus name, amen.