The minister of power, Adebayo Adelabu has disclosed reasons for the poor rate of power supply across the nation in the past few weeks. Since the beginning of 2024, Nigerians have not been enjoying regular power supply, despite witnessing some improvement last December.
While giving a report of a meeting he had on Thursday with power Generating companies (GENCOs) and Distribution companies (DISCOs) over the dwindling power supply, Adelabu admitted that power supply has deteriorated in the new year.
He said: “After investigations, it’s clear that the main cause of poor power supply is the low supply of gas to GENCOs. Visited facilities in Olorunshogo, Ogun State, and Omotosho, Ondo State to understand the challenges firsthand. Resolving the gas supply issue is our top priority.
“During our meeting, we also addressed the indebtedness to GENCOs by Nigeria Bulk Electricity Trading Company (NBET). While acknowledging the sector’s liquidity challenge, we are working on validating the debt and determining a fair resolution.
“I emphasized the importance of GENCOs establishing contractual arrangements with gas suppliers to ensure a steady gas supply. Recognizing concessions may be needed, I assure you that we are committed to working on this to stabilize the power sector.” The minister said.
Adelabu further added that his ministry is already taking steps to ensure that the situation improves across the nation.
“To tackle the gas supply and liquidity challenges, I’ve decided to form a committee involving all stakeholders. Together, we will work on recommendations to resolve these issues and ensure a more reliable and consistent power supply for our citizens.
“A plan has also been established to initiate discussions with the Minister of State for Petroleum Resources regarding collaboration and to emphasize to the Ministry the importance of prioritizing Gas to Power.” Adelabu explained.
