February 25, 2024
Power Sector Privatisation A Disappointment Says FG
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Power Sector Privatisation A Disappointment Says FG

The Federal Government says it plans to restructure the Transmission Company of Nigeria to align with the Electricity Act 2023 and the industry demands.

Speaking in Abuja at the Ministerial Retreat on the Integrated National Electricity Policy and Strategic Implementation Plan, the Minister of Power, Mr Adebayo Adelabu, said it is time to restructure the TCN into two entities, namely; the Independent System Operator (ISO) and the Transmission Service Provider (TSP). 

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This restructuring, he adds, must synchronise with what he calls the evolving landscape of state electricity markets, addressing calls for the decentralisation of the national grid into regional grids interconnected by a new higher voltage national or super grid. The minister said that for the country to increase its Gross Domestic Product to $1tn by 2030 as projected by President Bola Tinubu, it must massively increase investments in electricity.

 

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