“We’re at present reviewing the implementation means of a cost-reflective tariff,” the Minister of Energy, Adebayo Adelabu has disclosed.
He additionally mentioned the federal government will proceed to subsidize energy provide to the susceptible in society.
The Minister made this disclosure in his strategic course for the facility sector in 2024.
Whereas noting the significance of closing the meter hole, he mentioned ongoing initiatives, together with World Financial institution packages and the Presidential Metering Initiatives, will achieve momentum
He careworn that the Ministry will intervene in distribution infrastructure, supplying transformers to communities with out inserting the monetary burden on residents.
“Our major focus is enhancing distribution and transmission infrastructure to reduce technical and business losses,” he mentioned.
By way of transmission, he insisted that the Transmission Firm of Nigeria (TCN) shall be reconstituted within the brief time period, separating Transmission companies from System and Market operations by 2024 first quarter.
“Within the medium to long-term the Transmission grid shall be separated into regional grids to allow efficient administration”, he added. .
To enhance the transmission infrastructure, he mentioned:“we now have reactivated the Presidential Energy Initiative (Siemens Undertaking) which can strengthen the nationwide grid, and decrease technical losses.
“We will even be implementing the Japanese and Western tremendous grid initiatives to strengthen the grid and improve electrical energy provide to demand facilities within the nation.”
He reiterated the Federal Authorities’s dedication to prioritizing electrical energy provide within the nation .