President Bola Tinubu has officially endorsed a sweeping new policy aimed at transforming Nigeria’s struggling power sector, with plans to mobilize over $122 billion in investments over the next two decades.
During Monday’s Federal Executive Council meeting, Tinubu approved the National Integrated Electricity Policy, a long-anticipated blueprint designed to modernize the electricity supply industry and align it with both national development priorities and international standards. This policy adoption marks a significant milestone since it was first proposed in December 2024.
According to government estimates, the ambitious plan is expected to draw a total of $122.2 billion between 2024 and 2045. These funds will support efforts to diversify Nigeria’s energy mix beyond its traditional reliance on hydropower and gas-fired plants, aiming to strengthen energy security and improve grid stability.
Under the new framework, Nigeria will expand into alternative energy sources such as hydrogen, solar photovoltaics, biomass, wind, nuclear power, and carbon capture technologies. The policy also targets $192 million in transmission upgrades between 2024 and 2028, to address bottlenecks and improve electricity distribution nationwide.
The Minister of Power’s Special Adviser on Strategic Communications and Media Relations, Bolaji Tunji, confirmed that implementation is already underway. Quoting Power Minister Adebayo Adelabu, he said that Nigerians should expect to see noticeable changes in the electricity landscape soon.
Adelabu described the policy as a comprehensive solution to the sector’s persistent challenges. “This roadmap sets out clear strategies for sustainable generation, transmission, distribution, and the integration of renewables while also enhancing energy efficiency and governance in the sector,” he stated.
He added that the passage of the Electricity Act in 2023 has already set the stage for this transformation, creating an enabling environment for massive investment and growth. “This policy is a guide for all stakeholders—federal and state governments, investors, and the Nigerian public—as we transition to a modern energy future,” Adelabu emphasized.
As Nigeria embarks on this critical journey, the Tinubu administration hopes that the revamped policy will not only stabilize power supply but also fuel broader socio-economic development across the country.
