By Muhammad Sal
At the Nigerian Economic Summit held recently in Abuja, President Bola Tinubu, represented by his VP Kashim Shettima, made a major pledge to improve Nigeria’s power infrastructure, aiming to reconnect large industrial players back to the national electricity grid.
Nigeria’s power supply has been unreliable for years, forcing many businesses – including telecommunications, manufacturing, and large conglomerates – to rely heavily on costly diesel generators.
For instance, IHS Towers, which operates 16,000 telecom sites across Nigeria, recently revealed that 70% of their operating time is powered by diesel due to an unreliable grid. This dependency drains resources that could otherwise be invested in innovation and expansion.
During the summit, President Tinubu emphasized that a stable and reliable power supply is central to Nigeria’s plan for industrial recovery and economic advancement.
“Improving the national grid and bringing key industrial players back online is essential for economic growth and job creation,” he stated.
The Dangote Group, Africa’s largest conglomerate, has been among the major companies operating off-grid, relying on private power solutions due to inconsistent electricity. Restoring grid access for such firms is expected to vastly reduce their operating costs and improve competitiveness.
Officials and experts present highlighted that this power challenge affects not only large firms but also the entire economy, including startups and the growing technology sector, which depends on steady electricity to innovate and scale.
Also, representatives from the Nigerian Electricity Regulatory Commission (NERC) noted that addressing power issues is critical to attracting investments and fostering industrial innovation.
Meanwhile, the government has announced ongoing reforms that include upgrading transmission infrastructure, encouraging private investments in power generation, and reviewing tariffs to support sustainable electricity delivery. These initiatives aim to curb the reliance on diesel generators, which contribute to pollution and higher costs for businesses.
We’d love your thoughts on this article! Was the information relevant to you?
