Tag: Bayo Adelabu
Nigerians Spent N16.5 Trillion on Fuel and Generators in 2023, Says Federal Government
Abuja, Nigeria — In 2023, Nigerians spent a staggering N16.5 trillion on purchasing diesel, petrol, and generators for power generation, according to the Federal Government. This expenditure, primarily driven by the need for self-generated power, starkly contrasts with the formal power sector’s total revenue of N1 trillion for the same year. Minister of Power Adebayo…
Minister of Power: Nigeria on Track to Add 6,000 Megawatts to Power Grid
In a recent statement, the Minister of Power, Adebayo Adelabu, announced that Nigeria’s power sector has experienced significant improvement, thanks to the country’s capacity to produce 5,000 megawatts. This milestone marks a significant step forward in Nigeria’s efforts to enhance its power infrastructure and ensure a more reliable electricity supply for its citizens. Minister Adelabu…
Minister of Power Issues Warning: Embrace Tariff Increase or Face Nationwide Blackouts
The Minister of Power, Adebayo Adelabu, has issued a stark warning to Nigerians, stating that failure to implement the planned increase in electricity tariffs could result in complete power outages across the nation within the next three months. Speaking on Monday in Abuja during his appearance before the Senate Committee on Power to address inquiries…
Minister of Power Signals Potential Decrease in Electricity Tariff as Exchange Rate Improves
Adebayo Adelabu, the Minister of Power, has hinted at a possible reduction in electricity tariffs for Band A consumers once the exchange rate falls below N1,000 to a dollar. The current tariff for Band A stands at N225 per Kilowatt-Hour (KWh). In a recent statement, Minister Adelabu emphasized the flexibility of the tariff structure, suggesting…
Federal Government Vows to Overhaul Power Sector for Long-Term Solutions
The Federal Government has reiterated its commitment to resolving the longstanding challenges plaguing the power sector, with a focus on implementing sustainable solutions for lasting impact. Adebayo Adelabu, the Minister of Power, underscored this commitment during a press briefing following a meeting with All Progressives Congress (APC) members at the Oyo State party headquarters in…