Federal government aims for 350GW of electricity by 2043

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Federal government aims for 350GW of electricity by 2043
Federal government aims for 350GW of electricity by 2043

The Federal Government has unveiled an ambitious plan to achieve a substantial electricity-generating capacity of 350 gigawatts by the year 2043.

This announcement came from Abubakar Bagudu, the Minister of Budget and Economic Planning, during a meeting with high-ranking officials from the Nigerian Electricity Management Service Agency in Abuja.

Minister Bagudu

Minister Bagudu emphasized the paramount importance of the power sector within the framework of the National Integrated Infrastructure Master Plan.

He underscored that this goal can only be realized through concerted efforts from all stakeholders.

Highlighting the commitment of President Bola Ahmed Tinubu’s administration, Bagudu stressed that the power sector stands as the foremost priority among all asset classes in the National Integrated Infrastructure Master Plan.

Additionally, the minister pointed out that the government has initiated a series of reforms aimed at revitalizing the power sector, including the introduction of a new electricity bill.

This legislation repeals the Electricity and Power Sector Reform Act of 2005 and consolidates the legal framework governing the Nigerian Electricity Supply Industry.