At the 2024 Nigeria Energy Exhibition and Conference in Lagos, Adebayo Adelabu, the Minister of Power, attributed the reduced public complaints about rising petrol prices to improved electricity supply nationwide.
He emphasized that with more reliable power, Nigerians have become less dependent on petrol for generators, reducing their consumption.
Adelabu explained, “People don’t need to buy petrol again as much as they used to do for them to have power,” which is why the outcry over petrol costs has diminished.
He also highlighted Lagos state’s ambitious goal of replacing one million generators within a year, signaling a shift away from generator dependency.
Addressing the nation’s slow progress in power generation, Adelabu noted it took 40 years for Nigeria to increase its capacity by 2000MW. Still, recent efforts have brought the total generation to around 5000MW, with a peak of 5,527MW recorded on September 3, 2024.
The minister projected a significant revenue boost for the Nigerian Electric Supply Industry (NESI), aiming for N2 trillion in 2024, up from the N1 trillion generated in 2023.
