FG targets 350GW of electricity by 2043

The Federal Government plans to achieve a target of 350 gigawatts of electricity-generating capacity by 2043.

The Minister of Budget and Economic Planning, Abubakar Bagudu, said this when top management staff of the Nigerian Electricity Management Service Agency visited him at the ministry in Abuja.

According to the minister, the power sector is the most important among all the assets listed in the National Integrated Infrastructure Master Plan.

The minister, however, noted that it would only be possible if all hands were on deck toward realising those targets.

“The present administration of President Bola Ahmed Tinubu has prioritised the power sector as the topmost priority of all the National Integrated Infrastructure Master Plan assets classes,” Bagudu said.

He said that the government had embarked on several reforms to turn around the power sector, such as the new electricity bill.

The minister added, ‘’the electricity law repeals the Electricity and Power Sector Reform Act of 2005 and consolidates the law relating to the Nigerian Electricity Supply Industry.”