FG Unveils Renewable Energy Plan to Boost Electricity Supply

The Federal Government has intensified efforts to tackle Nigeria’s electricity challenges with a renewed focus on renewable energy, unveiling a strategy aimed at improving power supply and attracting fresh investment into the sector.

Speaking at the launch of the Renewable Asset Management Company on Wednesday, the Minister of Power, Joseph Tegbe, said renewable energy would play a bigger role in the country’s drive to deliver reliable and sustainable electricity to millions of Nigerians.

He explained that the government is pursuing a diversified energy model that combines grid power, mini-grids, distributed renewable systems, energy storage technologies and other solutions tailored to the needs of different communities and industries.

According to the minister, expanding renewable energy infrastructure will help bring electricity closer to underserved areas, strengthen critical public institutions and improve the overall stability of the nation’s power network.

Tegbe said the newly launched Renewable Asset Management Company was created to ensure the efficient management, maintenance and long-term sustainability of renewable energy assets across the country. He noted that the initiative forms part of wider reforms designed to maximise the value of power infrastructure and improve electricity availability.

Despite Nigeria’s vast energy resources and existing power assets, the country continues to struggle with unreliable electricity supply. The minister said the new company is expected to address this challenge by improving asset performance, reducing infrastructure deterioration and enforcing stronger maintenance standards.

He stressed that the effectiveness of the company would be judged by the number of renewable energy assets that remain operational, the reliability of electricity delivered to consumers and the level of investment attracted into the sector.

Tegbe also highlighted the broader economic impact of stable electricity, saying dependable power is critical to boosting manufacturing, supporting digital infrastructure, strengthening healthcare services, modernising agriculture and creating opportunities in rural communities.

He added that the government is positioning the power sector to attract both domestic and international investors, with renewable energy expected to play a central role in expanding access to electricity and driving economic growth.

The latest initiative reflects the Federal Government’s determination to strengthen Nigeria’s energy landscape, improve power reliability and accelerate the transition to a more sustainable and investment-friendly electricity sector.