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Nigeria’s Electricity Market Revenue Up By 70% In 2024 – Minister

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From Lateef Taiwo

Minister of Power Adebayo Adelabu said that Nigeria’s electricity market revenue in increased by ₦700 billion in revenue, reflecting a 70% increase.

The minister disclosed this at the opening ceremony of the 2025 and 4th African Natural Resources and Energy Investment Summit (AFNIS) holding at the Banquet Hall of the Presidential Villa on Wednesday in Abuja with the theme of this year’s summit, which is the fourth edition, is “Harnessing Local Content for Sustainable Development”.

He noted that the Electricity Act of 2023 has decentralised electricity governance, as a result of which eleven states had already assumed regulatory control over their sub-national markets, unlocking investment and competition.

“This reform enables each state to tailor energy solutions to local needs, while still contributing to national and regional market stability.

“We have developed and presented two foundational planning documents: the National Integrated Electricity Policy (NIEP) and the Integrated Resource Plan (IRP). These frameworks now guide power sector planning, prioritising least-cost solutions, optimal resource use, and clear investment pathways,” Adelabu said.

According to the power industry overseer, The theme “Harnessing Local Content for Sustainable Development” speaks directly to the current Federal Ministry of Power priorities.

He said as global trends shift toward decentralisation, digitisation, and decarbonisation, Nigeria is working to ensure that local content does not remain a policy slogan but becomes a measurable lever for economic growth, industrial capacity, and energy security.

He said, “With a population exceeding 200 million, Nigeria’s electricity demand continues to rise. Meeting that demand requires more than generation. It requires a clear regulatory framework, sustained investment, and local participation at every value chain level, from metering and manufacturing to system operations and grid management.

“Under the Renewed Hope Agenda of President Bola Ahmed Tinubu, we are strengthening domestic capabilities across the sector. We are driving reform to reduce import dependence, close infrastructure gaps, and embed local skills and technology into the core of our power strategy.

“We have developed and presented two foundational planning documents: the National Integrated Electricity Policy (NIEP) and the Integrated Resource Plan (IRP). These frameworks now guide power sector planning, prioritising least-cost solutions, optimal resource use, and clear investment pathways.

“Furthermore, it is evident that, due to our transformative tariff reforms, the market has generated an additional ₦700 billion in revenue, reflecting a 70% increase. This results from the cost-reflective tariff adjustment for Band A customers. Market revenue for 2024 rose from NGN 1 trillion in 2023 to NGN 1.7 trillion.

“This growth in market revenue is unprecedented, as the highest growth previously achieved was 20%. This positively impacts the reduction of the government subsidised tariff shortfall by 35%, reducing it from NGN 3 trillion to NGN 1.9 trillion and demonstrating that financial viability and service delivery can coexist harmoniously.”

In line with AFNIS 2025 theme, the minister said local content is being receiving premium attention through investment and execution.

He said, “We are using energy access and energy transition to drive domestic production, technology transfer, and employment: The Energising Education Programme (EEP) is adding 100MW of clean energy across 37 federal universities and 7 teaching hospitals. EEP III is now 70% complete.

“The DARES project, backed by a $750 million World Bank facility, targets over 17.5 million Nigerians through decentralised, private sector-led electrification with productive-use applications for SMEs and agriculture.
Through the Africa Mini-Grid Programme, we’ve secured $5.91 million in grants across 23 projects, delivering 948MW of new renewable capacity in partnership with 10 RESCOs.

“New meter test stations in Kano and Benin are nearing commissioning. These facilities will ensure quality assurance for meters assembled or produced locally—raising consumer trust and protecting investor capital.

“We are working closely with the Solar Energy Manufacturers Alliance of Nigeria to expand domestic assembly lines and deepen localisation in solar infrastructure.”

In terms of scaling regional integration and market opportunities, the minister expressed Nigeria’s commitment to partner in the Dar es Salaam Declaration and to be an active contributor to Mission 300, adding, “We remain focused on universal energy access and a credible path to net-zero emissions by 2060.”

“We are strengthening cross-border transmission through the West African Power Pool, expanding links to Benin, Niger, Togo, and Ghana. We are also participating in the ECOWAS Regional Electricity Market, which presents significant opportunities for Nigeria’s generation capacity and grid infrastructure.

Concluding, he stressed that local content must be measurable, translate to jobs, supply chains, technical skills, and retained value, saying Nigeria’s power sector reform is not about theory but execution.

“Our progress so far reflects a serious commitment to doing the hard work required to deliver a sustainable, investable, and resilient power sector.

“We are ready to partner with governments, private investors, and development institutions on projects that deliver results, respect local capability, and scale with impact.”

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Yakubu Hails China’s Zero-Tariff Initiative as Catalyst for Economic Transformation

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Chairman of the House of Representatives Committee on China-Nigeria Parliamentary Relations, Hon. Jaafaru Yakubu, has applauded the Chinese Government’s expanded zero-tariff policy for African countries, describing it as a catalyst for Nigeria’s economic transformation and a major opportunity for export growth, industrialisation and job creation.
In a statement, Yakubu said China’s decision to extend its zero-tariff policy to 53 African countries, including Nigeria, demonstrates Beijing’s commitment to supporting Africa’s economic development and strengthening South-South cooperation.
He noted that the policy offers Nigerian businesses unprecedented access to one of the world’s largest consumer markets and provides a platform for expanding exports, attracting investment and enhancing economic competitiveness.
“China’s zero-tariff initiative represents a strategic opportunity for Nigeria to accelerate economic growth, strengthen domestic industries and deepen our economic cooperation with one of the world’s most important trading partners,” Yakubu said.
According to the lawmaker, early indicators suggest that the policy is already producing positive outcomes. He disclosed that Chinese imports from Nigeria rose significantly during the first half of 2026, while total trade volume between both countries reached approximately $18 billion, reflecting growing economic engagement.
Yakubu said the encouraging figures demonstrate the enormous potential of the Nigeria-China partnership and highlight the importance of improved market access in driving economic prosperity.
He stressed that Nigeria must seize the opportunity by expanding production capacity, improving product quality and strengthening export-oriented industries capable of competing in the international marketplace.
The committee chairman noted that Nigerian products such as liquefied propane, sesame seeds, nuts, hides and skins are already benefiting from improved access to the Chinese market. However, he emphasized that the country’s long-term objective should be to move beyond the export of raw materials and focus on value-added products.
“We must leverage this opportunity to promote domestic manufacturing, industrialisation and job creation. Increased market access should translate into stronger local industries and greater economic opportunities for Nigerians,” he stated.
Yakubu urged Nigerian manufacturers and exporters to take advantage of the tariff-free regime by improving standards, certification processes, packaging and supply chain efficiency in order to meet the demands of Chinese consumers.
He also called on relevant government agencies to strengthen the infrastructure and institutional support necessary to help local businesses compete effectively in international markets.
The lawmaker further encouraged Chinese investors to expand their presence in Nigeria through investments in manufacturing, agro-processing, technology development and logistics infrastructure.
According to him, increased Chinese investment would support industrial growth, facilitate technology transfer and create much-needed employment opportunities for Nigeria’s growing youth population.
While welcoming the growth in trade relations, Yakubu acknowledged the need to address the trade imbalance between Nigeria and China, stressing that efforts must be made to increase the country’s export capacity and diversify its export basket.
“Our goal should not merely be to trade more, but to trade better. Nigeria must become a producer and exporter of more finished and semi-finished goods if we are to fully benefit from our relationship with China,” he said.
Yakubu also expressed appreciation to the Government of the People’s Republic of China for its RMB200 million grant to support Nigeria’s development projects, describing the gesture as further evidence of the strong friendship and cooperation between both nations.
He said the grant would contribute to efforts aimed at improving infrastructure, strengthening public services and advancing national development priorities.
The chairman commended China’s longstanding support for Nigeria through infrastructure cooperation, technical assistance, capacity building and other development initiatives, noting that such partnerships have contributed significantly to the country’s growth.
Looking ahead, Yakubu called for greater collaboration in key sectors including manufacturing, agriculture, technology, logistics and industrial development.
He reaffirmed his commitment to strengthening parliamentary engagement and promoting policies that will advance the mutual economic interests of Nigeria and China.
“As Nigeria and China continue to deepen their partnership, our focus must remain on translating opportunities into tangible economic benefits for our people. Together, we can build a relationship that is mutually beneficial, economically productive and supportive of sustainable development,” he added.
Yakubu concluded by expressing gratitude to the Chinese Government and the Chinese Ambassador to Nigeria, His Excellency Yu Dunhai, for their continued friendship, support and commitment to Nigeria’s development aspirations.

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STATEMENT ISSUED BY PROGRESSIVES ALLIANCE FOR JUSTICE, UNITY AND DEMOCRACY (PAJUD)

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THE FALLACIES OF MIKE IGINI

“It is mean and cowardly and an evidence of weakness and utter demerit, for any group of people to attempt to commend themselves to the public by the negative process of belittling and condemning others.”_

  • Chief Obafemi Awolowo, 28th April, 1951.

The attention of the Progressives Alliance for Justice, Unity and Democracy (PAJUD) has been drawn to the barrage of insults heaped by Mike Igini, former Resident Electoral Commissioner of the Independent National Electoral Commission (INEC), against every perceived and imaginary obstacle to his personal agenda.

We posit that since the return of democracy in 1999, the Nigerian political and electoral firmament has been overdosed with different genres of characters – the good, the bad and the ugly.

We state categorically and without fear of contradiction that President Bola Ahmed Tinubu is NOT responsible for the non-appointment of Mike Igini as either Chairman of INEC or National Commissioner since he left office in disgrace and engulfed in controversies in the South-South.

Igini must understand that such appointments are not done willy-nilly. They are based on several criteria. He has served two full terms as Resident Electoral Commissioner. For him to be nominated as National Commissioner, a vacancy must exist for his state. This is apart from the principle of rotation of the position among states in the geo-political zone.

Those who know President Bola Ahmed Tinubu closely know he is a leader who does not deliberately shut the door against competence and capacity. Anyone holding him in contempt on this matter is either being mischievous or acting out the script of the opposition, just like the present issue at stake.

It is unfortunate that Igini has allowed himself to be taken advantage of, dancing to the rhythm of anti-Tinubu and anti-Amupitan rogue agents.

We find it compelling to state unequivocally that Igini is blatantly scheming to discredit the present government and the Amupitan-led leadership of INEC in anticipation of reward by opposition elements and spent forces, if they ever win in the post-2027 general elections.

Over the years, we have watched the transformation of Igini from lawyer, to public affairs commentator, to agitator, until the PDP government appointed him Resident Electoral Commissioner.

We are amused at Igini’s feeble attempts at returning to public reckoning, using barefaced criticism, outright lies, mischief and fallacies against the Renewed Hope and reformative agenda as a springboard to relevance and prominence.

For an egocentric, self-seeking bigot and Mr. Know-All like Igini, he wants to remain relevant as a bride for any juicy INEC Election Management Committee headship or membership, which we know will never happen in this dispensation as a result of his antecedents while in office – an era marred by allegations of partisanship, disloyalty and endless controversies.

Your tenure as REC in Cross River State was characterised by mudslinging between you and a political party over unethical conduct unbecoming of an electoral officer. Similarly, your flexing of muscles and one-sided narratives during your tenure as REC of Akwa Ibom State is still very fresh in our memory. Till date, you are still spewing negative narratives against one of the politicians you fought in that state to high heavens.

Nigerians from all strata continue to wonder where the monies for the live telecast of Igini’s exit as Resident Electoral Commissioner of Akwa Ibom State originated from. In the history of INEC – from Dr. Ephraim Akpata, Alhaji Shehu Musa, Dr. Abel Guobadia, the much-vilified Prof. Maurice Iwu, Prof. Attahiru Jega reputed to be Igini’s benefactor, to Prof. Mahmood Yakubu – none of them had the temerity for such lavish display and grandeur during their exit. What was witnessed in the last days of Igini as REC in Akwa Ibom evokes serious questions about collective decency, decorum, moral rectitude and values.

Any argument in support of such an extravagant exit lacks integrity, for the simple reason that the pay slip of INEC Resident Electoral Commissioners and even National Commissioners is not a hidden document. It is known to the Nigerian public.

We believe that if we are sincere in this country, Igini should focus on more important non-partisan issues than chasing shadows. Igini should also address his own record, including the troubling episode of a Kenyan national engaged by INEC as a consultant some years ago, where the voter register fingerprints of Nigerians were allegedly compromised and handed to foreign interests. That despicable act is still fresh in our memory.

As overwhelming majority of Nigerians with voting rights are aware, there is an uncanny lust for power by desperate opposition politicians lurking on the horizon. They are deploying everything on earth just to grab power in 2027, and for no just cause but simply for selfish personal aggrandizement. They have recruited former staff, Directors, Resident Electoral Commissioners and National Commissioners to help execute their warped agenda and barefaced propaganda to deceive gullible Nigerians who will swallow every hook, line and sinker narrative framed by them.

We unreservedly agree with many who have suggested that as a believer in God, Igini should not allow his mind to be poisoned by the notion that any power outside the influence of God could have been responsible for the failure of his emergence as either National Commissioner or Chairman of the Commission.

Whatever it is, there seems to be more to it than meets the eye. The process of creating anarchy starts with incitement against the government, the electoral empire and security agencies. It often appears so smooth as to be imperceptible, hence those who engineer it enjoy the process at the initial stage, only to be consumed at the end of the day.

Elements in the class of Igini, who are acting out the script of falsehood purveyors and peddlers, will be put to shame at the end of the day. There is no doubt that Nigerians are going to have a well-deserved, credible, transparent, free and fair election in the 2027 general elections.

Above all, nobody can dispute the fact that President Bola Ahmed Tinubu nominated people with impeccable ability, capacity, loyalty, patriotism and honesty as members of the election management structure that will drive our democracy forward, in a manner that both Nigerians and the international community will be proud of like never before in our annals.

The focus of the Tinubu administration remains its much stronger determination to protect and respect the sanctity and fidelity of the ballot during the forthcoming elections.

We implore Mike Igini to stop the rabble-rousing, negative framing, mischief, mudslinging and casting of aspersions against the electoral umpire and Mr. President, and find something reasonable to do to earn a living just like other Nigerians, instead of going from one radio station to television stations across the country. His antics are already known to Nigerians who are far more sophisticated and politically savvy than before.

A word is enough for the wise… “WHEN YOU CONDEMN PEOPLE, YOU BRING JUDGEMENT ON YOURSELF.”

Signed:Comrade Yakubu Dan Abba
Country Representative, PAJUD.

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PAJUD Accuses Mike Igini of Political Grandstanding, Defends Tinubu, Amupitan

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The Progressives Alliance for Justice, Unity and Democracy (PAJUD) has accused former Independent National Electoral Commission (INEC) Resident Electoral Commissioner, Mike Igini, of attempting to discredit President Bola Tinubu’s administration and the leadership of the electoral body, describing his criticisms as politically motivated.

The group, in a statement signed by its Country Representative, Comrade Yakubu Dan Abba, alleged that Igini was seeking to regain public relevance through persistent criticism of the government and the leadership of INEC under its current chairman, Prof. Joash Amupitan.

PAJUD, however, did not provide independent evidence to substantiate its allegations about Igini’s motives.

The group maintained that Tinubu was not responsible for Igini’s non-appointment as INEC chairman or national commissioner after completing his tenure as a Resident Electoral Commissioner, arguing that such appointments were subject to established criteria, vacancies and rotation arrangements among states within geopolitical zones.

“Those who know President Bola Ahmed Tinubu closely know he is a leader who does not deliberately shut the door against competence and capacity,” the statement said.

The group further alleged that Igini’s criticisms were intended to undermine the current administration and INEC’s leadership in anticipation of political rewards from opposition elements following the 2027 general elections.

PAJUD also questioned Igini’s record during his service as Resident Electoral Commissioner in Cross River and Akwa Ibom states, citing past disagreements with political actors and what it described as controversies surrounding his conduct in office.

It also raised questions about the cost and circumstances of the live television broadcast of Igini’s exit from office in Akwa Ibom State, comparing the event with the departures of previous INEC chairmen and other senior electoral officials.

The group did not provide documentary evidence to establish wrongdoing in connection with the broadcast.

In another allegation, PAJUD called on Igini to address what it described as concerns surrounding the engagement of a Kenyan national as an INEC consultant and the alleged compromise of Nigerian voters’ fingerprint data. The statement, however, did not present evidence establishing that Igini was personally responsible for any compromise of the data.

The alliance accused opposition politicians of attempting to discredit the electoral system ahead of the 2027 elections, alleging that some former electoral officials were being used to advance political interests. It did not identify the individuals allegedly involved or provide evidence supporting the claim.

PAJUD, meanwhile, expressed confidence in the ability of the current INEC leadership to conduct credible, transparent, free and fair elections in 2027.

It said the Tinubu administration remained committed to protecting the integrity of the ballot, adding that the president had nominated individuals it described as capable, patriotic and committed to the country’s democratic development.

The group urged Igini to refrain from what it characterised as inflammatory criticism of the president and the electoral commission, insisting that public discourse on electoral reform should be guided by responsibility and respect for democratic institutions.

Quoting former Premier of the Western Region, Chief Obafemi Awolowo, the alliance recalled his statement of April 28, 1951, that it was “mean and cowardly” for any group to seek public approval by belittling and condemning others.

PAJUD concluded by urging Nigerians to remain confident in the electoral process ahead of the 2027 general elections, while reiterating its support for the Tinubu administration and the current leadership of INEC.

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