President Bola Tinubu has expressed his determination to increase Nigeria’s on-grid electricity capacity, describing the current 4.5 gigawatts as “shameful.” Speaking at the inauguration of the Presidential Economic Coordination Council (PECC) in Abuja, Tinubu emphasized the need for innovative solutions to the country’s economic challenges, including energy
The President announced measures under the economic stabilization program aimed at enhancing job creation, fostering economic security, and stabilizing the economy. Specifically, he set a target to increase on-grid electricity to 6 gigawatts in six months and boost oil production to 2 million barrels per day within the next 12 months.
Tinubu’s commitment to improving Nigeria’s energy sector is a welcome development, given the country’s chronic power generation challenges. The President’s emphasis on public-private partnerships and removing entry barriers to investments in the energy sector is crucial for driving economic reforms.
As Nigeria grapples with economic turbulence, Tinubu’s economic stabilization plan, including the N2 trillion package, offers hope for reviving the country’s struggling economy. With a focus on energy security, job creation, and economic growth, the President’s initiatives have the potential to transform Nigeria’s economic landscape.
Let’s keep a close eye on the developments and see how these plans unfold in the coming months.
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