Tinubu Greenlights $122 Billion Power Reform Plan to Light Up Nigeria’s Future
President Bola Tinubu has taken a bold step to tackle Nigeria’s long-standing electricity woes by approving a comprehensive new energy policy that could unlock over $122 billion in investments over the next two decades.
At the Federal Executive Council meeting held Monday, Tinubu ratified the long-anticipated National Integrated Electricity Policy and Strategic Implementation Plan, a sweeping roadmap designed to transform the Nigerian Electricity Supply Industry (NESI). First submitted in December 2024, the policy aligns with the Electricity Act of 2023 and aims to address everything from unreliable power supply to outdated infrastructure.
“This isn’t just a document, it’s a new chapter in Nigeria’s development,” said Minister of Power, Chief Adebayo Adelabu. “We’re building a system that will deliver sustainable, affordable electricity to homes, schools, hospitals, and businesses wherever Nigerians live and work.”
A Long-Term Vision for Reliable Power
The policy sets a clear vision: to mobilize $122.2 billion in investments between now and 2045 to modernize Nigeria’s power landscape. Beyond fixing old problems, the plan charts a future powered by clean, diverse energy sources — including solar, wind, hydrogen, nuclear, biomass, and even carbon capture technologies.
It’s also a significant departure from the country’s reliance on just two major energy sources: gas-fired thermal plants and hydropower. The policy envisions a more resilient grid with both centralized and decentralized systems, giving states greater autonomy to build their own energy markets a shift that experts say could reduce outages and foster innovation.
Laying the Groundwork
Already, the government has earmarked $192 million over the next five years (2024–2028) specifically to boost the country’s transmission infrastructure, a major bottleneck that has plagued the electricity sector for years.
The policy outlines steps for reforming not just generation and transmission, but also energy efficiency, governance, and consumer protection. According to Adelabu, the roadmap offers “clear guidelines for sustainable power generation, integration of renewables, and stronger sector governance.”
It also commits to values often overlooked in past reforms: climate responsibility, gender inclusion, and local innovation. The policy’s eight chapters cover a wide range of issues, from climate adaptation to legal and commercial frameworks and even the need for local content development and research.
A Collaborative Effort
Unlike past top-down reforms, this policy was developed with wide input from across society. Stakeholders included representatives from state governments, civil society, academia, industry leaders, donor agencies, and consumer advocacy groups.
“This is a living document,” Adelabu emphasized. “It will evolve as the industry changes. What matters is that we remain committed to collaboration, innovation, and putting the Nigerian consumer first.”
The president’s approval now paves the way for the policy to be officially gazetted and implemented across all levels of government. In practical terms, that means Nigerians could start seeing real improvements in the coming months from fewer blackouts to more renewable energy options.
Looking Ahead
The Tinubu administration hopes this ambitious reform will finally break the cycle of energy poverty and unlock Nigeria’s vast economic potential. If successful, it could mark a turning point not just for the power sector, but for national development itself.
[logo-slider]“In a country of over 200 million people, electricity is not a luxury,” Adelabu said. “It’s a right. And this policy is how we intend to make that right a reality.”
