The Minister for Power, Adebayo Adelabu, has expressed readiness to increase power generation in the country to 20,000 Megawatt of electricity in the next three years.
The country currently generates an average of 4,000MW even though it has an estimated 13,000MW generation capacity.
This is coming on the heels of another power grid collapse yesterday that led to power generation dropping to 42.7MW.
The collapse was the third in the last five days.
But, during an address at the ongoing Nigeria Energy conference, Adelabu said 85% of the generated power needs to be distributed to electricity consumers to achieve liquidity in the sector.
While acknowledging energy as a critical aspect of Nigeria’s economy, he said no meaningful economic growth can be achieved without energy.
He vowed to change the narratives in the power sector which has been beset with several challenges
